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How much do you keep in your checking
Posted on 3/4/20 at 3:17 pm
Posted on 3/4/20 at 3:17 pm
I keep $15k. The rest goes to my non-qualified brokerage. What do y’all keep in cash?
23
Posted on 3/4/20 at 3:21 pm to 3morereps
Bout 350
Posted on 3/4/20 at 3:22 pm to 3morereps
I cover my ach payments with a $1000 buffer. So at any given time there's no less than $1000.
Posted on 3/4/20 at 3:25 pm to 3morereps
(no message)
This post was edited on 3/25/20 at 4:34 am
Posted on 3/4/20 at 3:38 pm to deeprig9
quote:
I cover my ach payments with a $1000 buffer. So at any given time there's no less than $1000.
Basically this. Everything is run through the CC except the typical bills that cannot. Mortgage, Entergy, etc.
We run pretty thin with a good portion directed to savings prior. If it’s a normal month everything is basically automated. Occasionally for a big purchase we will transfer back from savings.
Posted on 3/4/20 at 3:48 pm to TigerDeBaiter
I had it down to the penny like that, well oiled machine, until I got switched from bimonthly to biweekly. Doesn't seem like it would frick anything up but it somehow does. Still recalibrating. I fell to $800 today and started to panic.
Posted on 3/4/20 at 4:00 pm to 3morereps
I used to keep alot cash. Now I keep a few hundred in checking the rest is in brokerage. I got tired of missing out on growth in the checking.
Posted on 3/4/20 at 4:12 pm to 3morereps
I keep around 5k. This will cover my typical payments during the month (mortgage, credit cards etc) with some buffer.
So I do my checking with Fidelity using their Cash Management Account which has billpay, atm/debit etc. The nice thing is that Fidelity treats the Fidelity money market funds as cash. I put all my cash in SPRXX.
So for any debit (billpay, atm withdraw, debit card etc) in the account, Fidelity will automatically liquidate just enough of SPRXX to cover.
No need to do this beforehand which is great and this works in investment accounts too.
So I do my checking with Fidelity using their Cash Management Account which has billpay, atm/debit etc. The nice thing is that Fidelity treats the Fidelity money market funds as cash. I put all my cash in SPRXX.
So for any debit (billpay, atm withdraw, debit card etc) in the account, Fidelity will automatically liquidate just enough of SPRXX to cover.
No need to do this beforehand which is great and this works in investment accounts too.
Posted on 3/4/20 at 4:30 pm to 3morereps
right this minute in 1 of my checking I have approximately 120,000 in cash. The other maybe a couple grand.
that includes lots of monies that will serve different purposes.
that includes lots of monies that will serve different purposes.
Posted on 3/4/20 at 4:50 pm to Fat Bastard
Two checking accounts:
1). “Fun money” for the week. I get paid weekly, and immediately put $ aside for savings, investing, & bills. The left over is the “fun money”, and it gets paid down to $0 by payday. Any left over, gets invested or moved to savings. On any given Thursday, I could have <$10.00
2). Real estate investment account. Rent in, mortgage out. I don’t touch it otherwise. I’m trying to build it up to $10k per unit for Cap Ex and any major expenses for a cushion. Once I get to that point, that excess money will also be invested.
1). “Fun money” for the week. I get paid weekly, and immediately put $ aside for savings, investing, & bills. The left over is the “fun money”, and it gets paid down to $0 by payday. Any left over, gets invested or moved to savings. On any given Thursday, I could have <$10.00
2). Real estate investment account. Rent in, mortgage out. I don’t touch it otherwise. I’m trying to build it up to $10k per unit for Cap Ex and any major expenses for a cushion. Once I get to that point, that excess money will also be invested.
This post was edited on 3/4/20 at 4:54 pm
Posted on 3/4/20 at 4:52 pm to 3morereps
Usually 75k, cause I ball
Posted on 3/4/20 at 6:18 pm to 3morereps
I have 3 full years of expenses in my savings right now, but we are building a house, so I wanted to keep my money close by. Once we close on the house, I plan to move much of it to either a high yield savings, or something else that I can keep it liquid, but get more interest.
Posted on 3/4/20 at 7:23 pm to 3morereps
quote:
How much do you keep in your checking
After bills are paid, money is moved to savings (1800 a month) and personal money is taken out by wife and I (1000 a month each in literal cash) About 1000 left in Checking for groceries and such.
Overall have about 6 months of bills and living money between savings, checking and cash stash. No idea how much of her personal money wife has stashed away. We need to find something new to do with the 1800 a month besides savings, considering a brokerage account as all our retirement accounts are covered.
Posted on 3/4/20 at 7:58 pm to Dawgfanman
min balance is 2,000 for an emergency i guess. i do have an emergency fund in a savings account as well.
Posted on 3/4/20 at 8:00 pm to bayou choupique
the way I got my bank account set up, I got a checkings and a savings, but all my money is in my savings, so I gotta switch it to my checkings, but it's gonna take 3 business days...I don't think it's gonna go through.
Posted on 3/4/20 at 9:31 pm to AUGDawg
Right. Understood. Its why I answered right now I have a chunk but some will go to taxes. Some back to real estate reserves in my TD Ameritrade or vanguard account using a mmf. Some for emergencies. Etc. A bunch will be moved soon.
Posted on 3/4/20 at 10:13 pm to Fat Bastard
hardly anything. What's left after bills goes in savings
Posted on 3/4/20 at 10:19 pm to 3morereps
Try not to keep much. Maybe $1000 just for psychological comfort.
Everything left after bills I try to move elsewhere.
Everything is paid on CC's, with plenty for any emergencies. Also figure I can pull out principle from Roth if I desperately need cash.
Don't see any other reason to keep a large balance in checking.
Everything left after bills I try to move elsewhere.
Everything is paid on CC's, with plenty for any emergencies. Also figure I can pull out principle from Roth if I desperately need cash.
Don't see any other reason to keep a large balance in checking.
Posted on 3/4/20 at 10:26 pm to rintintin
Roth IRA’s are the new savings account
Posted on 3/4/20 at 10:47 pm to 3morereps
I like to keep between 50k to 75k in mine and my wife keeps another 30 or 40k in hers.
I was supposed to start building a house last year so I let mine get about 3 or 4 times that and should have put it in something else.
I was supposed to start building a house last year so I let mine get about 3 or 4 times that and should have put it in something else.
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