How often should you check your checking account statements?

For financial security, the best practice is to check your statement each month when it arrives, either via e-mail or in the mailbox. Also, you should check your credit card statements and other financial documents when they arrive in the mail.

Only 4 percent of people follow this practice every month, states INF. Some people check their balances regularly on their mobile phones to keep track of it, but the statements provide a monthly list of all transactions. If this is your practice, make sure that you're checking your transaction to monitor for fraudulent use or if any vendors have double-billed the account.