Old banker told me to always keep a physical log of transactions and I laughed...

My uncle retired from Wells Fargo in Charlotte and told me to write down every check and debit in a paper ledger no matter what. I thought he was ancient and stuck in his ways, so I just relied on the bank app. Last month the app glitched for three days and I overdrew my account by $140 because I didn't know what cleared. He was right about having a backup. Who else still uses paper or does everyone just trust the digital stuff?

2 comments

2 Comments

aliceg6120d ago

Wait, isn't the real lesson here to just check your balance before spending? I mean, I get that the app glitching is annoying, but relying on a paper ledger seems like a lot of extra work for something that almost never happens. Maybe it's just me, but I keep a rough mental note of what I've spent and check my app once a day before I buy anything. It's not like banks don't have overdraft protection or text alerts that tell you when your balance is low too. Idk, I'd rather just keep better track of what I'm swiping than keep a second set of books like I'm running a small business. But to each their own, I guess.

emerycarr20d ago

Wait, @aliceg61, overdraft protection still charges you a fee though, right?