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Michael A. Milazzo, CLU, ChFC
Registered Principal
The Meridian Financial Company
3350 Club Villas Dr SE, Unit #1303
Southport, NC 28461
Phone: 631-979-4223
Fax: 910-854-0002
Email: meridian@ae.cadaretgrant.com
Website: www.merfinco.com
July/August 2021
Balancing Act
Online banking and mobile banking apps may have made it easier to keep track of your checking account balance, but it’s still important to make sure your records match your bank statement.
Balance Your Checking Account
- Start with the opening balance (the amount of money showing in your account).
- Subtract pending transactions, including checks you’ve written, ATM withdrawals, automatic bill payments and debit card charges.
- Add expected deposits, credits and any interest earned.
- Deduct fees and charges.
- Record the ending balance (your available funds).
If the balance doesn’t match your account statement, go through your records again to find the discrepancy. Common errors include forgetting to record a transaction, transposing numbers and adding or subtracting incorrectly.
Expensive Mistakes
Your financial institution will charge you an insufficient-funds fee for each transaction that overdraws your account. Consider setting up overdraft protection or automatic transfers from a savings account.CONTACT US
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Securities and Advisory Services offered through Cadaret, Grant & Co, Inc, a Registered Investment Advisor and Member FINRA/SIPC. The Meridian Financial Company and Cadaret, Grant & Co., Inc. are separate entities. I am registered to sell Securities in the following States: NY, NJ, PA, NC, FL, ID.
The Meridian Financial Company and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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