Checking account balance

[Anonymous]

How much do you typically keep on your checking account? How much do you decide to keep per month after paying all the bills and saving/investing?

[Anonymous]

I usually keep between $5K and $20K in checking, depending on where we are in the bills cycle. If it gets much over that I move some over to savings. That is either saved up for something specific (vacation, new car, house project) or moved into a brokerage account for long-term savings.

[Anonymous]

Right now I have around $500, which will be added to next week's paycheck to pay my April rent.

[Anonymous]

Our checking is just for bills so it is brought down to about $20 every month. We sweep money to our high interest savings account and investment account every pay period.

[Anonymous]

Anonymous wrote:Our checking is just for bills so it is brought down to about $20 every month. We sweep money to our high interest savings account and investment account every pay period.

Ours is also just for bills and weekly cash. It goes very low and transfer more in about twice a month to cover expenses/spending money.

[Anonymous]

I like at least $1000 as the baseline.

[Anonymous]

I like $3,000 as the base because random annual payments hit and I’m too distracted in life to track those. Like car insurance. Or I need to write a check for a home or car repair.

[Anonymous]

$20k. We often have large credit card bills from travel.

[Anonymous]

Mine ranges from about $8-15k. I like a good cushion so I don’t immediately have to transfer money if something comes up.

[Anonymous]

We have like 44k, ugh. CCs are about 5-7k each month. We do not need that much in checking.

[Anonymous]

Anonymous wrote:I like at least $1000 as the baseline.

Same. I have an alert set up to let me know if it goes below $2000. If that happens on the 29th of the month (dh is paid on the last day of the month, typically), we’re good. If it happens on the 20th, I’m in trouble and need to move money.

[Anonymous]

Anonymous wrote:Our checking is just for bills so it is brought down to about $20 every month. We sweep money to our high interest savings account and investment account every pay period.

Where have you found a high interest savings account? We also shift money into a savings account, but earn almost nothing on it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Our checking is just for bills so it is brought down to about $20 every month. We sweep money to our high interest savings account and investment account every pay period.

Where have you found a high interest savings account? We also shift money into a savings account, but earn almost nothing on it.

I guess high interest is relative, but we use the Goldman Sachs Marcus account. Current rate is 2.25%

[Anonymous]

Never more than $1k - move anything above that to a high interest money market account.

[Anonymous]

About one month's worth of expenses typically. We keep everything else in investment accounts and use sweeps.