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re: How much $ do you/should you have in your checking account. Personal Fin Q's
Posted on 3/29/13 at 9:26 pm to wegotdatwood
Posted on 3/29/13 at 9:26 pm to wegotdatwood
I keep approximately 2 weeks expenses in my checking account at any one time.
But that is a budgetary move.
My paycheck deposits into my savings account (which has around 8k as a mini: my HDHP deductible + 1 month of expenses), which is then set to automatically transfer a preset amount to my checking account every other week. My job is hourly, and a significant portion of it is OT. Enough so that you can budget past base pay, but you will have a highly variable take home.
But that is a budgetary move.
My paycheck deposits into my savings account (which has around 8k as a mini: my HDHP deductible + 1 month of expenses), which is then set to automatically transfer a preset amount to my checking account every other week. My job is hourly, and a significant portion of it is OT. Enough so that you can budget past base pay, but you will have a highly variable take home.
This post was edited on 3/30/13 at 10:20 am
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Posted on 3/29/13 at 9:45 pm to wegotdatwood
I have too much in the checking account. Almost 30k and I only have 2k in the savings account. I need to put some in a Roth IRA or something but the market is high now.. Also since interest rates for savings accounts are So shitty I figure it doesn't matter if the money sits in checking or saving.
Posted on 3/29/13 at 9:56 pm to wegotdatwood
I pull all extra money out of my checking every payday.
Posted on 3/29/13 at 10:15 pm to TheIndulger
If you think the market is high and due for a crash, you know you can invest in things other than stocks in your Roth....
That's no excuse at all to be essentially losing money in a checking account.
Not with 30k sitting around doing nothing but losing money to inflation (unless you are planning on doing something like but a house in the next 6 months or so).
That's no excuse at all to be essentially losing money in a checking account.
Not with 30k sitting around doing nothing but losing money to inflation (unless you are planning on doing something like but a house in the next 6 months or so).
Posted on 3/29/13 at 10:54 pm to Siderophore
Yeah, I guess it's because I am in school and without a source of income at the moment, so I am being a little conservative. Probably way too conservative.
Posted on 3/30/13 at 1:09 pm to TheIndulger
quote:
I have too much in the checking account. Almost 30k and I only have 2k in the savings account. I need to put some in a Roth IRA or something but the market is high now.. Also since interest rates for savings accounts are So shitty I figure it doesn't matter if the money sits in checking or saving.
Oh shite, the market is high? Someone had better tell the market.
Posted on 3/31/13 at 1:35 pm to Dead Mike
I have $27k in my account.
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