We keep 3-4 months of living expenses in ours.
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I don't keep anything in my checking (well, I keep $100 to cover fees); it doesn't earn any interest so I don't see the point of parking money there.
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we're afraid to keep too much in checking because it is too easy to spend! so any extra money we have goes to savings.
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We keep ours in savings, where we can't see it. Out of sight, out of mind.
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We keep most in savings and we only deposit enough $ in our joint checking to pay off our credit card each month. We put absolutely everything on the card (bills, fun stuff, etc) and then pay it off and get the cash rewards.
I have a Secret Girl Fund seperate checking account that usually has a few humdred or so in it and I use that for fun stuff for me & H that DH would eyeroll me to death for buying...Like her diamond earrings, lol:)
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Same with all the above...there's no reason to keep it all in checking, when we have a good savings account.
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@PrincessBaby: secret girl fun lol omg.
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Yeah checking earns no interest. Anything that's not used on bills, goes in savings.
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If it's in our checking, we spend it, so I try to keep as little in there as possible (it helps/hurts that we don't make a whole lot!).
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We only keep spending money and bill money in our checking account. Everything else goes directly into our savings.
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We keep money in our savings. Anything in the checking account is strictly for bills and expenses.
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Oh whoops, I answered over $20K, but if we're talking about checking - no more than a few hundred $'s at a time. Same as everyone else - it doesn't earn interest although we aren't more likely to spend it since we use our skymiles card for everything and pay it off in full every month.
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Um... currently three dollars I think. We don't keep anything in checking except what we'll be spending that week.
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We keep enough for upcoming bills plus ~$200 buffer. I like getting the interest from savings, plus then we don't spend it.
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@chopsuey119: wow. That is a LOT of money to keep in your checking account!!!
We keep a minimal amount and the rest is in savings.
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I'm in the >20k group, but that's because it's a high-yield checking account. My husband and I have separate accounts since the balance you can earn interest on is capped.
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Just a few hundred to cover bills. Everything else is transferred immed to savings.
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@chanzi: ooh I'd love to find a high yield checking acct! If you don't mind me asking where do you bank?
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Only enough to pay our bills for that week/month- everything else goes into savings- i cant be trusted with extra money in my checking account- i will go on a shopping spree!
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I keep a buffer of around 1k. I don't like it to dip too low! All of our bills are due at different times of the month.
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@mungbean A local credit union--actually it's not local for us anymore, but they don't kick you out when you move! We even closed our joint bank account in our current location since we never used it, and now we deposit checks using the paypal ap on our phones instead of sending them in the mail.
I think credit unions offer these accounts more often, so maybe check the credit unions in your area?
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Enough to cover bills when they need to be paid! Otherwise we keep everyything in savings!
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Just 1k, the rest in savings because it has a better interest rate.
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Just enough to cover the bills plus about 2k buffer. So probably about 3-5k at any given time in the month.
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Usually enough just go cover bills and some buffer, even though our checking account can take from savings if we would for some reason go over.
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nm
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25 comments