Anonymous
05/31/2022 07:04
Subject: How much do you keep in your checking account?
We keep a bout a months expenses, 15k. We are high income so if something pops up we just use money from our paycheck.
Anonymous
05/31/2022 06:35
Subject: Re:How much do you keep in your checking account?
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
05/31/2022 06:34
Subject: Re:How much do you keep in your checking account?
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
05/31/2022 05:58
Subject: Re:How much do you keep in your checking account?
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
05/31/2022 04:06
Subject: Re:How much do you keep in your checking account?
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
05/30/2022 22:46
Subject: Re:How much do you keep in your checking account?
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?
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
05/30/2022 17:18
Subject: Re:How much do you keep in your checking account?
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
05/30/2022 15:59
Subject: How much do you keep in your checking account?
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
05/29/2022 12:07
Subject: How much do you keep in your checking account?
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.