Ask the Expert

Q: I have difficulty keeping a record of bills I've paid. How can I avoid sending my checking account into the red?

A: Our money can get away from us in the blink of an eye, and we hardly notice it's gone until that harsh reality check from the bank hits -- in the form of a red number on our statement.

There are ways to keep this from happening. The most important part of money management is to keep track of where your money is going. You might find it hard to enter all of your expenditures into your checkbook. Luckily, you seldom have to write a check anymore with the options that are available in today's world.

One way to manage your money is to set up direct bill payment. Most companies offer the option of automatically deducting the bill amount from your checking account each month. The record of the transaction is automatically noted. If you decide to do this, be sure you keep enough money in your account so that there are no surprises.

Another way to keep track is to make most of your purchases using a debit or credit card. That way, you can view online statements daily. This system takes away the necessity of having to remember what you spent -- the numbers are right there in front of you.

With enough practice and discipline, it won't be long before your days of negative funds are over.

Ellie Kay is a national speaker, financial expert, and the best-selling author of eight books, including her most recent release, The Debt Diet. She is the mother of five and makes her home in Palmdale, California.