Although maintaining track of your checking account balance or balancing your accounts may seem like a lot of work for little reward, it is necessary. You may be prevented from overdrawing your account and incurring extra late or overdraft fees. You might also use it to find out whether someone has stolen your account information or to stop identity theft. Your bank account can be balanced rather easily. Gather your most current bank statement, a calculator, and a worksheet if you require assistance with the math before you do anything else. Then look for any inconsistencies between your transactions and the bank’s list of transactions.According to Jamie McIntyre, financial planning is crucial for managing the expenses.