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lynxcat
Rutgers Fan
Member since Jan 2008
15178 posts

re: How much of a "cushion" do you leave in your checking account after paying bills

Too much. I've maxed out my Roth IRA for 2012 and 2013, but I have no desire to set up a personal investing account right now. The most I would do is put it in a money market...I'm very risk averse in that I like having a good lump sum for protection. I do have some more aggressive investments but that is money I expect to go play ball.

In the next couple of years, I'll either go to school and use the cash for living expenses to limit loans or I'll buy a house and cover a nice downpayment with the cash.


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trillhog
Elite Membership
Member since Jul 2011
18772 posts

re: How much of a "cushion" do you leave in your checking account after paying bills
8-10k


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dlmast87
Ohio State Fan
Amishville
Member since Dec 2007
1501 posts

re: How much of a "cushion" do you leave in your checking account after paying bills
$1,000 for both accounts.


LSUtoOmaha
LSU Fan
Nashville
Member since Apr 2004
21844 posts
Online

re: How much of a "cushion" do you leave in your checking account after paying bills
$1,000

The rest goes to 401k or paying off debt.
This post was edited on 6/19 at 6:10 pm


cjared036
Alabama Fan
Houston, tx
Member since Dec 2009
7681 posts

re: How much of a "cushion" do you leave in your checking account after paying bills
$25k


NewIberiaHaircut
LSU Fan
Lafayette
Member since May 2013
3978 posts
Online

re: How much of a "cushion" do you leave in your checking account after paying bills
I keep $10K at 3.5%.


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GoHoGsGo06
Stanford Fan
Member since Nov 2006
4278 posts

re: How much of a "cushion" do you leave in your checking account after paying bills
quote:

$1,000 The rest goes to 401k or paying off debt.
this is pretty much me. School loans set me back a little bit, or else I'd be building some nice wealth right now (for my age and cost of living). I just wish I could get rid of these sooner and start some real investing. I'm only maximizing up to company match for 401k right now.

School loans are much higher rate than I can earn elsewhere.


hiltacular
Georgia Tech Fan
NYC
Member since Jan 2011
10398 posts
Online

re: How much of a "cushion" do you leave in your checking account after paying bills
I aim for $1000 left in my checking acct after all bills are paid. This is with automatic payments into my 401k/roth each paycheck. I will typically adjust my spending habits one way or the other based on how I come out each month. I noticed I was spending a lot more money on things that I really didn't need when I was keeping 2-3k in my checking after bills.


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tirebiter
LSU Fan
ATL
Member since Oct 2006
5359 posts

re: How much of a "cushion" do you leave in your checking account after paying bills
quote:

Because if you have a Chase Freedom and a Chase Checking account, you get a 10% bonus on your points every year. $1,500 is the minimum you need to avoid fees on the account. Kinda wondering if its worth it for the money to just sit there being a portion of my emergency fund.


If you dig around you will find a $200 cash bonus offer on the checking if $1500 balance is maintained for 6-months, or maybe that is because they just like me as a customer.





sonusfaber
New Orleans Pelicans Fan
Chattanooga, TN
Member since Apr 2010
2558 posts
Online

re: How much of a "cushion" do you leave in your checking account after paying bills
quote:

The interest rates are .000000000001%.
I have no debt to pay off.


Not much but some money markey accounts are .5%. And you can still manage it online and write checks from it. That's $110/ year lying around. Very little, but something.


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ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
7694 posts

re: How much of a "cushion" do you leave in your checking account after paying bills
quote:

If you dig around you will find a $200 cash bonus offer on the checking if $1500 balance is maintained for 6-months, or maybe that is because they just like me as a customer.


5/3 bank here in TN just gave me $150 for switching a business account to them, with $1500. Really won't keep much more than this in there on the reg, so 10% on $ was great. Like 0.18% APR


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