Should I pay attention to my current balance or my available balance?

Question

I really want to go shopping and I've been waiting on my college refund for weeks. Well, today it says on my online banking that my direct deposit has been received.

My current balance reflects my balance before my refund, however, on my available balance the refund is included.

So...if I go spend a lot of money right now is it gonna deny me?

I just don't know if the current or available balance is more important.

Answer 1

You need to keep track of your transactions with a register or a simple piece of paper. That way you know what your balance is no matter what. You cannot always rely of your financial institution to balance your checking account for you. However, you need to call your financial institution and ask them as different banks have different names for the same thing.  

Answer 2

Your available balance is the amount you can withdraw from your account via check, ATM etc.

The current balance is the available +- transactions that haven't yet cleared.

Shouldn't take more then a couple of days. Banks make money on the float.  Some take longer than others.

Answer 3

You ought to consider depositing some of it into savings. While that sounds hokey, remember how gas prices shot up over the summer. Things aren't settled out yet. Hold some back for a real emergency like car repairs.