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Got lost in the numbers. Help?

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  • Got lost in the numbers. Help?

    I got lost recently in my numbers and kind of have no idea what to do. >.<

    I round all transactions up (purchases) or down (deposits).

    I keep one month of expenses in checking at all times.

    I use credit cards for all purchases that I can.

    Here's my current situation:
    Checking Account shows $2,218
    Ledger shows $1,741 (which includes current card balances of $157)
    Monthly expenses are $1,663

    Should I wait until I get paid again to transfer money to my savings, so that I know exactly where I sit?

    How can I make sure this getting lost doesn't happen again?

  • #2
    Well, you could stop rounding and use actual numbers.

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    • #3
      I agree. Stop rounding and use the actual amounts.
      Brian

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      • #4
        Originally posted by Frügal View Post
        Here's my current situation:
        Checking Account shows $2,218
        Ledger shows $1,741 (which includes current card balances of $157)
        Monthly expenses are $1,663
        I'm not clear what the problem is.

        Your ledger says you have $1,741 which is more than your monthly expenses of $1,663. You actually have $2,218 so you've got more than a $500 cushion.

        Personally I agree with the others. Keep accurate records and stop fudging the numbers. But short of that, if you want to trick yourself like this, that's okay as long as you are consistent and still balance your checkbook every month to make sure everything is accurate. Don't ever assume that the bank is right. Just this month, I found a $14 bank error when I balanced my checkbook.
        Steve

        * Despite the high cost of living, it remains very popular.
        * Why should I pay for my daughter's education when she already knows everything?
        * There are no shortcuts to anywhere worth going.

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