Why is it important for you to keep your own register?

Keeping your own register is fundamentally important because it gives you an accurate idea of what is available for you to spend. By regularly updating a register, you can track all your transactions, including deposits, withdrawals, and expenses. This practice helps you see your financial situation clearly and can prevent overspending.

In contrast, relying solely on bank statements or electronic banking may not provide a complete picture of your finances, as those sources can sometimes lag or miss pending transactions. By maintaining your own register, you ensure that you have real-time visibility into your account balance and can manage your budget more effectively. This proactive approach ultimately leads to better financial decision-making and helps avoid pitfalls such as overdrafts and impulse spending.