2/18/09

WFMW: Checks and Deposit Slips- What to Do?

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For a long time, we would get a pile of cancelled checks with our monthly bank statement. Those I kept in the envelope they came in. Then, the banks started storing the images of the cancelled checks on microfilm and there was much less paper in my life.

More and more, stores are going with the electronic funds transfer method wherein the amount is automatically debited from your account and your check is cancelled on the spot and handed back to you. So now, we have a pile of cancelled checks in our checkbooks.

Add that to any debit card slips and receipts that you may accumulate and you've got a whole forest in your purse!

Every week, I try to clean out my purse and car on Friday. All of those cancelled checks and the deposit slips from that week are cleared out of my checkbook or purse and I store them in the box that my checks come in. This is a great way to keep track of what is where, I can easily reference them if I meed to and when they are past their prime, they can be shredded or burned one box at a time.

This tip works for me! See more at Rocks in My Dryer!

3 comments:

Scribbit said...

Andrew keeps telling me to do my banking online--you'd think I could make the switch after being online so much but I just like doing the physical balancing each month.

Sydney Plumber said...

Nice blog post.....

Kokopelli said...

I long ago realized my credit union was better at keeping my checking account balance than I was, so I stopped messing with the checkbook. With so many accounts available online, why bother with all the paper?