Your checking account is the hub of your finances. It’s what your money flows in and out of. If not managed properly, it can lead to mistakes such as late bill payments, overdrafts, and a lack of savings. If you’re ready to successfully manage your checking account, here are some helpful tips.

How to Successfully Manage Your Checking Account

1. Know Your Balance

The number-one rule to successfully managing your checking account is to keep track of your balance. With so much information available online, it’s tempting to always look at your bank statement balance to see what you have available. The downside to doing this is that it doesn’t account for any checks or purchases you’ve made that haven’t yet been taken out of your account.

An easy way to keep track of your checking account balance is with a standard checking transaction register. You should receive one of these each time you order a new box of checks. Pick one day a week to sit down and record your transactions so that you know your true balance.

2. Automate What You Can

Automation is a powerful tool that can keep your bills paid on time and ensure that you’re reaching your savings goals. Most of your monthly bills will allow for automatic payments. When the bill is due, money will automatically be taken out of your checking account.

You can set this same system up for savings and investments. Automation will ensure that your money is going where you want.

3. Take Advantage of Online Banking

Long gone are the days of having to call the bank with questions or wait for a paper statement to come in the mail. Instead, you can use online banking to check transactions, pay bills, and transfer money between accounts.

If you haven’t already done so, familiarize yourself with your bank’s online banking feature.

If you’re looking for a local bank with excellent customer service and free online banking, look no further than Putnam 1st Mercantile Bank. Located in Cookeville, TN, Putnam 1st Mercantile Bank is locally owned and operated. If you’re ready to do business with a bank that will treat you like family, visit their website. You can also call them at (931) 528-6372 for more information.