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How much do you keep in your checking acct?

S

Suspicious-Teach8788

Lifer
Around 2 - 3k here. I don't understand people who keep the bare minimum. Yeah you can get interest at other places but you better be exact about your credit card payments because one typo and you get a fat overdraft charge.

Plus shouldn't you keep a little extra as an "oh shit" fund?
 
Due to monthly bills [thanks in part to this wonderful recession] - my "oh shit" fund doesn't exist. If I could make my credit card balances "disappear" - then I'd definitely be able to have a rainy day fund...
 
About 2 months take-home pay. I might reduce that some when I'm done doing major work on my house. Right now Home Depot owns me.
 
All of my money; probably about 12 months to live on. I need to get some of it in something that earns higher than the 1.51% I get from my checking account.
 
why can't oh shit fund be in savings?
same bank transfers are pretty quick, no?

i keep a couple hundred in checking. if i need to pay a bill, i'll transfer the necessary amount from savings to checking the day before.
 
Being that this is a technology-type forum, I assume most of like expensive toys...but that may not apply to everyone.

How many people that say they have more than $5K in their checking account at all times buy toys on a regular basis?

Unfortunately, I find that as my income goes up, so do the cost of my toys. For example, 20 years ago I could never afford a nice Marshall amplifier (roughly $2K). Now I can. For me, if I can pay it off in a couple of months (and REALLY pay it off) then I can afford it. 😀

Boys never really stop playing with toys; they just become progressively more expensive. 😱

Oh...after paying bills every month there's about $200 in my checking account.

I believe that you can't take it with you, so enjoy life now. Screw that hoarding acorns shit.
 
$500 to $1000. i've got a savings account with the same bank and transfers are instant.
 
Bare limit for interest as stated by OP. The charge is $3.25 if I ever go under. It's happened once when a new credit card bill didn't come, and when I called, I was already being charged interest, so had to pay it off immediately.

If I had a real job, I'd probably keep $100 over the limit on a regular basis.
 
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