I get emails from CC and bank of all activities so that’s my confirmation. The tips are somehow not always included in the initial notification but will show up in final charges. If they are within the ballpark, I don’t sweat over a few dollars. I download to quicken and categorize expenses. Takes a few minutes a day for over 20 years and that really helps to plan for our retirement since we know pretty well where our money goes. Try to turn down paper receipts whenever I can.
Some of my friends are shocked that both my husband and I get notifications of our cc charges. They can’t imagine letting their husbands know what they spend! We don’t keep separate accounts and it never bothered us what the other spent. A little eye rolling here and there sometimes that’s all…
I keep my receipts and paper cr card bills, though I follow/look up/pay on line. If I need to return something, they want the receipt, and it’s easy to keep the receipts with the bills in their envelopes. Also, Some (rbg Clark Howard) say having paper backups of bank statements and such are ideal if funds go missing, there is a glitch with the site, you need records from several years ago, etc. https://clark.com/consumer-issues-id-theft/citigroup-hack-highlights-benefits-paper-statement/
I keep paper receipts and reconcile them when the bill comes. I also check the cc accounts periodically throughout the month. DH’s handwriting is so awful, it’s especially important to check restaurant charges. He has one of his cc’s set to text him if there’s any charge above $500.
I have various alerts set up on CC/bank accts that monitor various acct activities. If I get an alert I may or may not check it out, it just depends on subject matter of alert. In the past after receiving notice that some statement (eg CC/ checking) was available, I would log in, take a look, also have my wife take a look to see if something seemed odd. We do not print out statements, except checking acct so my wife can balance check book. We assume CC companies can do simple math and assume the balance is correct. Lately, as I’m getting older and my wife isn’t particularly computer savvy, I’ve been having her log into CC/bank accts. I don’t think my shelf life is coming to an end, but stuff happens. lol
It only takes me a couple of minutes each day to look at our bank account and credit cards online to make sure everything is ok. I usually do this first thing in the morning while having a cup of tea before heading to the office.
I do autopay but still like monthy paper bills. I keep receipts and reconcile every month. Dislike having to log into accounts online, btw and would not keep up. several months ago a scam occurred- new card issued et al. Throw out receipts except those for warranties and the like every month. Throw out paper bills annually.
Online things do bother me forone factor- someone could alter things and you would never know while if you have the printout it can’t be ignored. It is nice to have the electronic convenience but nice to have a paper trail as well.
The term “balancing” doesn’t mean anything for credit card use for me. I long ago quit balancing my checkbook- now when I remember I reconcile checks written and make sure they were cashed. Plus I use a circle for taxable donations. Sometimes online financial info can have too much to spot things.
If you can get a pdf version of your statement, it’s possible to “check” items off by highlighting them in Adobe reader. That’s how I keep track as I’m balancing accounts.
Well this is fortuitous. I called the bank that we have an online-only savings account and asked that they resume sending paper statements. I asked the interest rate, which is a paltry 0.8%. BUT, they just rolled out a premier savings which they say has no catches- no minimum, no fees, etc and pays 1.9% interest. Gonna check it out!
Online my credit card has a pending charges page along with those that have been processed. Sometimes it’s for merchandise not yet shipped- such as the fraudulent purchases when the card number was stolen.
H and I always eyeball all charges and ask each other if there’s anything that seems off or unexpected. I have caught a few fraudulent charges and our CC company has caught a few.
Re notifications: I really got annoyed the 1st few times to be notified I was trying to buy gas and being asked it it was really me and I wanted to authorize myself to buy gas. I know it’s for our protection but they put like $100 hold to buy only $30 of gas—really? That could add up on a road trip! Fortunately I adjusted and we don’t seem to get those as often any more.
I eyeball the monthy Visa statement for issues. I still get paper and like it that way. (I did switch to electronic for Credit Union statement I print it and do still balance the checkbook. These days, very few of the entries are for checks - it’s mostly autopays etc).
“The main reason I like to enter the transactions, though, is that it becomes a diary of where we went and what we did” - I really love the year end Visa statements. They are PDFs online, with category breakdowns. I print them and review as part of year end review with DH.
I find it easier to search in Quicken by whatever data point I have (date range, part of a name, comment in notes). We tag everything in Quicken to more detailed categories than what the credit card provides (ie, charitables, medical, etc).
That said, it’s a ton of work and probably doesn’t offer as much value as it used to.
I used to eyeball the statements until Mom noticed significant discrepancies in tip amounts. While I would like to go paperless, I can’t envision how to do it. While we auto pay our Credit Card’s in full every month, we have many CC. Several to maximize Airline or Hotel perks. Two to avoid international transaction fees. One for rental management expenses. My husband also travels so work expenses are mixed into these bills. Is there a way to create a import a spread sheet?
Every single day without fail I check my credit card charges and all of my bank accounts online. Much easier to nip something in the bud than at a statement month end - which could be a month from when an issue (compromised card) began.
Regarding tips on restaurant bills, I always put a huge line through the tip amount, take a pic on my phone and tip the server in cash. Anybody who has been or has a kid who has worked as a server appreciates that.
I also check all my accounts every morning, takes less than 5 minutes.
I do not balance. Every few days I download my transactions into YNAB (budgeting software) so there is no way I would miss a fraudulent charge. The ones I worry about are the cards I never use and don’t check hardly ever.
I admire the people that check their accounts every few days… I’m unlikely to ever be that vigilant (well, maybe in retirement?). I do like the automated checkers that look for suspicious big charges. Sometimes that is a pain when it is ME making the uncharacteristic charge (and need to do text confirmation), but it is a good use of technology.
I use several different credit cards as much as I can to build points totals on rewards programs. We pay all charge accounts in full every month, matching our receipts to the items on the bill. Of course some charges are auto pay, and I am familiar with those.
I prefer paper bills and statements as I handle them at our kitchen table by a picture window while listening to the radio. I cross out each item that has a matching receipt, check off regular items billed (newspaper subscription, Netflix, etc.) If all items have matched receipts, I pay the bill in full and throw out the paper stuff. If any item is without a matching receipt, I see what it is/check with hubby to determine if it was our purchase. I will then hold onto that bill with a note as sometimes the receipts “turn up” in a subsequent month.
I have several items (gas & electric, some insurance, medical plan payments) on auto pay for convenience, BUT I am very resistant to online only billing. I get way too many e-mails, and papers are easier for me to keep track of/be organized about.
Once a credit card of ours was skimmed at a hotel restaurant in a city we were visiting. The perpetrator used our card at a liquor store and for takeout food. It became a court case. We were notified by authorities before the cc bill had come in, but we certainly would have caught the activity ourselves on the paper bill.
I no longer “balance” my checkbook (Thanks, all, for alleviating my guilt re that!), just look to make sure all deposits were credited. I insist on both online access and paper statements via the mail – told my bank I would move our accounts if they forced us to choose just one.
Works for me, but I do dread the day paper bills (and mail service) are things of the past. I am such an old lady re some things!