A big part of budgeting, preventing fraud and making sure your finances are on track – is monitoring your accounts. It’s always a good idea to do this regularly. Keep reading to find out what accounts you should be checking on a daily basis.

Your Main Checking Account

If nothing else, your main checking account is one you really need to be reviewing daily. If you use your debit card to make frequent purchases from your checking account, you will want to check your account balance and review each transaction everyday to make sure all purchases made are legitimate and that you have enough money in your account for future purchases or bills. If you get paid via direct deposit and it comes into your main checking account, you’ll want to review that as well. You’ll want to make sure you have enough of a balance in this primary checking account, to avoid overdrafts and fees. By checking this account each day, you can track all your expenses and weed out unnecessary purchases.

Credit Card Accounts

If you have a credit card or cards you use frequently, you should try to remember to login online and check these accounts each day. Better yet, if your credit card company offers purchase alerts, payment due alerts or payment received alerts – sign up for them. These types of alerts will then be sent to your phone as a text or to your email, to help you monitor your account and charging activity. If you are carrying a credit card balance, we recommend logging into your account each day to ensure accuracy and to be sure any pending charges or posted purchases are yours. Even if you have credit card transaction alerts set-up, it’s still a good idea to check your online account everyday and review all activity to prevent or quickly notice any fraudulent charges.

Your Savings Account

While you probably don’t use your savings account very often, it’s important to review your balance and make sure you have enough saved for a rainy day, to meet any financial goals or big ticket items you’re saving up for, and that withdrawals and activity in this account are minimal. Regularly checking up on your savings will hold you accountable for reaching your monetary goals.

Business Accounts

If you’re the owner of a small business, it’s important to be up to speed on all your business accounts. You truly need to know what money is going where on a daily basis when you own a business. Checking your business accounts daily will ensure what you’re spending isn’t exceeding what you’re bringing in. You’ll also want to make sure your business invoices are paid on time, and that you have the funds to purchase any supplies or equipment your business needs each week.

The team at First Financial can help you better manage your money and reach your financial goals. Call us at 732.312.1500 or stop by any of our local branches if you have any questions about personal finance.

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*A First Financial membership is available to anyone who lives, works, worships, volunteers or attends school in Monmouth or Ocean Counties. See credit union for details. A $5 deposit in a Base Savings Account is required to establish membership prior to opening any other account/loan.