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re: How much of a "cushion" do you leave in your checking account after paying bills
Posted on 6/19/13 at 10:54 am to TDsngumbo
Posted on 6/19/13 at 10:54 am to TDsngumbo
quote:
I've always done $1,000 but I'm thinking about lowering it to $750.
If your emergency fund is in another account, $200 to $300 is a good cushion. More than that you'll just spend it on stuff you don't need and is a sign you're not saving enough.
IF you're housing your emergency fund in your checking account (which I don't recommend), you need $1200 to $1300.
This post was edited on 6/19/13 at 10:56 am
1
Posted on 6/19/13 at 3:15 pm to Ace Midnight
quote:
IF you're housing your emergency fund in your checking account (which I don't recommend), you need $1200 to $1300.
Since I have a Chase Freedom to go along with my Chase Sapphire Preferred, I have been thinking of opening a Chase checking account to stash $1,500 into.
Why?
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.
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