How to Balance Your Checkbook with a Bank Statement

Part of the Video Series How to Balance a Checkbook

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How to use your bank statement to balance your checkbook in this free video clip on personal finance.

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Video Transcript

How to Balance Your Checkbook with a Bank Statement
Hi, this is Doug Benson on behalf of Expert Village. I'm going to show you how to balance your checkbook and as a result become a better manager of household finances. The bank statesman that you receive shortly after the end of the month contains all of the transactions that have cleared or have been posted to your account in that calender month. Your bank statesman won't undoubtedly look different than this but the type of information that contains will be the same. The top portion of the first page will contain information that identifies which account this statement is for. After verifying that you have the statements for the correct account you'll see a listing of all the accounts activity. This will contain all of the transactions for funds going into and out of the account. These transactions will be listed in the order that they occurred with the beginning of the month at the top of the list. The list will begin with a line that reads something like beginning balance or previous balance. The list of transactions activity will end with the line that reads ending balance or new balance. Take note of this on amount you're going to need it in just a few minutes. Watch my next segment as we continue to learn more about balancing you checkbook and becoming a better manager of household finances.

About the Expert

Expert: Mr. Benson is a certified financial counselor specializing in personal and family finances. He has been serving individuals and families in the Pacific Northwest for over 18 years. Read More