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Would you like to be richer than the amount you see in your check register?

I'll share with you my "lazy woman's guide" to keeping track of debits and credits in my checking account. This isn't going to make you a ton of money, but it does add up and feels like a windfall when you're strapped for cash and need it or want to splurge.

For starters, I really dislike getting out my calculator to deduct $43.67 from $282.07, for example. How I avoid that task is to not count the change at all and round the amounts up to the next $5.00 increment. Using the $43.67 as an illustration, I skip the cents, calculating that I've spent $44.00. Rounding up to the next $5.00 increment equals $45.00, and my stash gets credited $1.00.

I call it my hidden money tree. Here's a more substantial example. I've spent $5.50 (or $6.00 since I skip the change). Rounding up to the next round number, I deduct $10.00, crediting $4.00 to my secret stash. It's not really a secret since I know it's there. I just jot down the 4 in the little space provided in the check register and forget about it until I need it. Then I go through my register, adding up all the 1s, 2s, 3s and 4s, then transfer the stash back to my active balance.

This method of "bookkeeping" has several advantages. It's easy and you don't really miss the money since you haven't lost it in the first place. The amount you've "hidden" really comes in handy if you've forgotten to deduct a cash withdrawal from an ATM, that pesky insurance premium is due, or you just want to go play. By the way, once you become aware of that ATM withdrawal or debit card purchase you accidentally forgot, deduct it from your active balance or your stash will no longer be accurate.

If you try this and want to see a decent amount build up ($100.00 or more), let it ride for a few months before calculating your "hidden stash."

One more thing have you ever cashed your big piggybank of loose change? If that came to a substantial amount, you'll recognize that in the change alone, you truly do have hidden assets that only your bank has figured into the equation. I haven't counted my change in about four years. One of these days I'm going to reconcile my bank statement and find out how much is really in my account. On the other hand, I like having the cushion in case I make a mistake.

Learn more about this author, Joyce Bocek.
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