If you have a bank account, you might not think to check it everyday, but I’m going to give you some pretty important reasons to check your bank account daily that everyone should know. Some people avoid looking at their bank account on purpose, while others of us just forget about it. Or, perhaps if you don’t use it a lot, you might not think you need to check it each day, but trust me, you should. Take these 7 reasons to check your bank account daily to heart and don’t wait- start today! You can save yourself stress and money in the process.
One of the most obvious reasons to check your bank account daily are overdraft risks. It is so easy to overdraft without even knowing it. There are multiple reasons you might overdraft your account, even if you have all the funds for your bills in there at the beginning of the week. Perhaps you have a check that was mailed months ago and never went through, or an automatic payment comes out that you weren’t counting on. Some merchants also wait to run through charges you make on your debit card for multiple weeks, which can cause this issue. Checking your account daily ensures you aren’t suffering overdrafts when you weren’t counting on doing so. If you do see an overdraft, contact your bank immediately to see why and to catch it in time to prevent other things from overdrafting on top of it.
2. Monthly Fees
I can’t tell you how many times I’ve signed up for one of those free trials, whether through Netflix, a newspaper subscription, or for computer software programs. I get busy, forget about the free trial ending, and the first month’s monthly fee charges my account in the meantime. If you don’t check your bank account daily, you won’t see monthly fees that you might have forgotten about come out. The best thing to do is to set alerts for yourself as soon as you sign up for something incurring monthly fees. This prevents the headache all around. Even antivirus software can come with monthly fees, which are easy to forget about until your account has already been charged.
3. Bank Charges
Another reason to check your account each day is to make sure your bank hasn't charged you any fees. Many banks are allowed to start charging you fees without notifying you. This can be anything from a minimum balance fee, maintenance fee, debit fee, yearly or bi annual fee, or more. Always check your account to make sure you don’t have any fees you weren’t counting on.
4. It Keeps You Aware
If you think you have $50 when you go to the store, according to what you had in your account the last time you checked, and you get to the store and realize you don’t have enough funds in your account, you’ll be left in the dark. In the meantime, an old debit charge, any of the fees above, or a check you mailed weeks ago could have gone through without you being aware. Checking your account daily helps you stay in the know about what you have in there each day, so you can be aware of everything that has come out in the meantime.
5. It Tracks Your Spending
One of the most uncommon, yet helpful reasons to check your bank account each day is it helps you track your spending by showing you how much you’re spending in what areas. Those few trips to the coffee shop or specialty store might seem like nothing when you first indulge in them, but when you see all those charges add up each day in your account, it helps you see where your money is going. This is a budget tip I’d recommend anybody with a debit card start taking part in. Being aware can help you take back the reigns on your spending and have more money.
6. Closed Accounts
Believe it or not, some banks will actually close your account if you don’t use it enough! To make sure this doesn’t happen to you, be sure you check your account daily if you don’t use it that often. If you do, this won’t be a problem, but you should still check it anyway for all the other reasons mentioned here.
7. Paycheck Problems
Lastly, one reason to check your account each day is especially for pay day reasons. I’ve had my paycheck not go through at the exact time or day I thought it would in the past, or be for an incorrect amount. So long as you check your account on pay day, you can make sure that you’re being paid when and how much you expected to be. If a glitch happens, you can notify your employer immediately to correct the issue.
Checking your account each day is simple to do in a few minutes with a few clicks online. Don’t wait to start taking up this healthy habit. Do you check your account daily?