What does 'balancing my chequebook' mean?

Answer 1

Making sure that your credits and debits add up to what its supposed to be.

Answer 2

bit of an old phrase but it's not putting your physical chequebook on the tip of a pen and keeping it from falling down

actually its an american term as they often call current accounts "checking accounts" (also "balancing your ledger")....... not sure what the exact british translation is but let's go with it

essentially, it's the most basic financial skill of ensuring your monthly (weekly, annual...) outgoings don't exceed that of your income so you don't end up massively overspending and ending up in the hilarious, unbelievable debt that you see people on awful TV shows and misleading credit-firm adverts talking about. It's not too difficult, really, just requires some self discipline and keeping tabs on your balance and comings & goings. It's become both more complicated these days as you have to handle credit cards (best to keep them empty where at all possible, use just as a safety net for unexpected big bills that would put you in overdraft, or buying expensive items as it offers an extra money-back warranty), savings, direct debit arrangements etc as well...... but also easier as we are in the age of direct salary payments, the balance-displaying ATM and online banking.

Main tenet is to realise you're in control, and the money you're being paid is *the money you're being paid* - no magic fairy is going to come along and wipe out any massive credit-card shopping or gambling bills you run up. Take responsibility! :-)

Answer 3

you start out with a certain amount of funds
then you wriTe some checks or use your debit card so these amounts have to be subtracted from your account
then there are usually some bank charges
such as a monthly fee or overdrawn
these have to be subtracted
as well as any sums you have written from your account
that have not been taken out yet
te remaining balance is what you have left
a look at you present account minus the uncharged checks should be the same
if you have not recorded the last few debit card uses you will wind up shout soon

Answer 4

How can I be out of money when I still have checks left?
Seriously, it means to sit down with your statement and make sure that the total balance they have matches what you have. You make a list of all your checks and withdrawels add to get a total,list deposits and get a total then subtract withdrawels and get the balance.Compare to the banks while being careful to adjust any withdrawels/cks. made after date of statement. If your total left matches the banks, then you balance. If not then adjust accordingly.

Answer 5

Entering all of your credits and debits into your checkbook and making sure they balance out. It's a way of keeping track of where your money went so that you know how much is left in your account so that you don't overdraw the next time you write a check.

Answer 6

Life is short and I do not waste my time balancing in goings and out goings as shown in my check book! I just look at my bank statement every moth and I can always telephone the bank and ask what is my balance is at any time.

Answer 7

Check your chequebook against your bank statement, to make sue you know what goes in and out....

Answer 8

Making a complete record of the payments made and deposits so that you can verify that the bank records match. The advantages include knowing that there are no payments leaving your account without your knowledge/permission.

Answer 9

Making sure all the checks you wrote add up to checking account. Hope ypu but the money into your account or you will have draft fees.

Answer 10

you must know where every cent is gone
based on the original balance