Office of Financial Empowerment
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Quick Tips on Managing Your Account


Once you open an account, you need to manage it carefully.  Avoid extra fees or account problems so that your credit report remains in good standing.  Here are four tips to keep in mind:





  • Track all deposits and withdrawals.  
    Check your balance every month against the statement that your bank sends you.

  • As soon as you write a check, subtract that amount from your balance. 
    It may take weeks for some individuals and businesses to cash your check.  By immediately subtracting the check amount from your balance, you will avoid bouncing checks because you thought you had more in your account.  Note also that Automated Teller Machines (ATMs) may not always reflect recent transactions, so keeping your own record will help you keep track of your budget.
    Learn how to create a spending plan/budget

  • Use your bank or credit union's ATMs to avoid fees
    Generally, to use the ATM of a bank or credit union other than your own, you have to pay a fee.  So try to use an ATM from your bank or credit union only to avoid extra fees.

  • Keep your personal information in a safe place.  
    Identity theft can ruin your credit and take years to resolve.  Keep your bank account numbers, ATM cards, passwords and Personal Identification Number (PIN) to yourself.  Do not share them with anyone.