This past year has been an exciting one in our household. My wife and I decided, early in the year, to sell our house and downsize. For her, this was not a “spur of the moment” thing. She has been pushing me for a few years. But, with the housing market on fire, it was now time for me to get onboard. While we knew the house would sell fast, we also knew there were risks. Fortunately, our time in an apartment was much shorter than we anticipated and a book could be written of the whole story. It was this event though that made us both understand that, in fact, banks can make mistakes.
We closed on our new house in September, but we had two more months before possession. On the day we moved in there was a check in the mail from the new HOA refunding us $250 from the closing payment. So, after verifying it was correct we went off to the bank to cash it. No further thought.
Then, in December, looking over our bank records we could not find that the $250 ever made it to our account. Unfortunately, I had discarded the deposit receipt, but I did write the date on the check attachment that I had saved. I searched everywhere for that check, high and low. It was no where and the bank did not see it either.
The HOA company encouraged me, after a couple of weeks, to go back to the bank one more time. Fortunately, the teller I spoke went back and looked at the work on the specific date I noted for the deposit (and that I had recorded in my account register). After a couple of hours I received a call saying they had found the check and and explanation of what had happened. This was two days before Christmas. Our $250 had been found.
Now, let me say here, I have not problem with the mistake. None! People and systems make mistakes. I was not mad nor confrontational with the bank or the teller. It happens. But, think for a minute, what if I had not recorded that deposit in the account register. Would we have ever thought, again, about this unplanned “gift” of $250? Likely, not! But, we track every credit and deposit into our accounts. We found it missing.
Do you track the ins and outs of your accounts? Why not? Most today do not. Technology and quick access to our accounts allow us to believe that everything is alright and the bank will not make mistakes. They do!
Back in “the day”, everyone had a checkbook with a “check register”. Not everyone did, but the idea was you track all credits (deposits) and debits (withdrawals – primarily checks) from your account. You always knew, when done right, what money you had in your account to use.
Today, we are too big and advanced to do something like that. Personally, we use an app to track what used to be on paper. But, for many, that is still too inconvenient.
Wise people will read this and realize they can do something just a little different by taking a few seconds and track – in writing or on an app – the ins and outs of their accounts. This is not just to track any bank mishaps, but to also manage your cash flow and PREVENT overdraft fees!
What can you lose? What have you, just maybe, already lost by not keeping track? For us, S250!
What do you use to track your accounts why do you not?
