How often should you review bank and credit card statements?

Reviewing bank and credit card statements monthly is recommended because it helps individuals stay on top of their finances and monitor their spending habits effectively. This frequency allows for timely identification of any discrepancies, unauthorized transactions, or fraudulent activity, which can be addressed promptly before they escalate.

Moreover, regular monthly reviews can help you assess your budget and financial goals, making adjustments as necessary. By staying engaged with your financial statements, you cultivate better financial habits and can ensure that you're not overspending or missing out on benefits like rewards or discounts. Monthly reviews also allow you to track recurring payments and subscriptions, minimizing the risk of forgotten payments that could lead to overdraft fees or unexpected charges.

While other options suggest less frequent reviews, such intervals may not provide the same level of financial awareness and control, as essential patterns or issues might go unnoticed for longer periods.