How much do you keep in your checking account?

[Anonymous]

Anonymous wrote:Enough to have a month's worth of expenses at the beginning of the month -- usually around $6000 at the beginning of the month because our mortgage, credit cards, daycare, etc are all due at the beginning of the month.

Same.

I try to "use it up" every month as I am nervous keeping large amounts of money in checking accounts in case of theft. So hard to get that money back if something happens.

[Anonymous]

We have several accounts. I keep $25k in my main personal checking $250k in a second and $50k in a third. We have a joint account with $50k and dh keeps about $100k in his.

[Anonymous]

Genuinely curious: why do people keep so much money in checking accounts? I could see, maybe, a couple of months' worth of expenses and whatever is needed for an upcoming big purchase (car, etc.). For me, that would typically be under $10k. But what's the reasoning behind keeping, say, $50k+ in such an account? Aren't there better places to keep large amounts of money? Even at 1% interest, $50k will get $500/year, which is nothing at which to sneeze.

[Anonymous]

You people are all insane. $1K or $3K in your checking account?! I never go below $25,000.

First of all, I’m a business owner so my income comes in irregular amounts. Second, whenever my rental property has turnover, I need thousands to cover my payments until the new tenant is found. Third, there’s always something that needs to be done with either the house or car. And I don’t even have kids, so that’s a huge source of surprise expenses off the table for me.

I don’t get you weirdos – do you sell stocks any time some appliance in your house breaks?

[Anonymous]

Anonymous wrote:You people are all insane. $1K or $3K in your checking account?! I never go below $25,000.

First of all, I’m a business owner so my income comes in irregular amounts. Second, whenever my rental property has turnover, I need thousands to cover my payments until the new tenant is found. Third, there’s always something that needs to be done with either the house or car. And I don’t even have kids, so that’s a huge source of surprise expenses off the table for me.

I don’t get you weirdos – do you sell stocks any time some appliance in your house breaks?

"do you sell stocks any time some appliance in your house breaks?" I don't understand.

[Anonymous]

Anonymous wrote:You people are all insane. $1K or $3K in your checking account?! I never go below $25,000.

First of all, I’m a business owner so my income comes in irregular amounts. Second, whenever my rental property has turnover, I need thousands to cover my payments until the new tenant is found. Third, there’s always something that needs to be done with either the house or car. And I don’t even have kids, so that’s a huge source of surprise expenses off the table for me.

I don’t get you weirdos – do you sell stocks any time some appliance in your house breaks?

And I think people who keep that much money at zero interest are the weirdos. Our larger amounts are in a money market account and I can transfer money back and forth between the money market account and the savings account at any time with the click of a button

[Anonymous]

We range from $30,000 to $1500 depending on the time of the month. Expenses for the month usually around around $18,000-$20,000 for mortgage, student loans, kids daycare, car payments and credit cards.

[Anonymous]

Anonymous wrote:You people are all insane. $1K or $3K in your checking account?! I never go below $25,000.

First of all, I’m a business owner so my income comes in irregular amounts. Second, whenever my rental property has turnover, I need thousands to cover my payments until the new tenant is found. Third, there’s always something that needs to be done with either the house or car. And I don’t even have kids, so that’s a huge source of surprise expenses off the table for me.

I don’t get you weirdos – do you sell stocks any time some appliance in your house breaks?

Uh, there are other places to store cash besides checking accounts. Like savings accounts for one.

[Anonymous]

We keep a bout a months expenses, 15k. We are high income so if something pops up we just use money from our paycheck.