Question

Name two reasons why it is important to check your bank statements on a regular basis.

Answer 1

1. **Fraud Detection**: Regularly reviewing your bank statements helps you identify any unauthorized transactions or suspicious activity. Detecting fraud early can prevent further losses and allow you to report the issue to your bank promptly.

2. **Budget Management**: Checking your bank statements allows you to track your spending habits and ensure that you are adhering to your budget. This can help you identify areas where you may need to cut back and improve your overall financial health.