Comments on: How Much Is In Your Checking Account Right Now?

By: J. Money

J. Money — Mon, 09 Apr 2018 10:58:43 +0000

In reply to Dustin Bingham. 50%!! So beautiful!!

By: Dustin Bingham

Dustin Bingham — Sat, 07 Apr 2018 02:39:54 +0000

I keep the bare minimum and it’s usually down to less than 100 right before I get paid. I try to figure out my budget to the penny ahead of time and I’ve gotten good at it. I take 50% of my income, invest it right away, and pretend it doesn’t exist. Treat each day like I’m starting over at $0 and challenge myself to hit 1k

By: J. Money

J. Money — Mon, 02 Apr 2018 18:52:57 +0000

In reply to Aaron.

Hah yeah – a good “vice” right there indeed ;)

By: Aaron

Aaron — Sun, 01 Apr 2018 06:58:21 +0000

We have $2,000 in our checking account in order to get the account free. Otherwise, every dime that comes in immediately goes to online savings account (for short-term) or to Vanguard. I probably over-optimize but, hey, everyone has their vices :)

By: WorkingMom

WorkingMom — Thu, 29 Mar 2018 18:43:17 +0000

In reply to J. Money. Rural Iowa. We love when local banks compete. They do a lot for the community...hosting tailgates for high school, handing out ice cream at Little League games. It's a great place to live and earn interest.

By: Shannon

Shannon — Wed, 28 Mar 2018 15:35:42 +0000

“Your checking account balance is ranked in the top 8% for your age group (40 to 50)”

We’re actively looking where to keep said money instead of in our checking. Already contributing to several tax-deferred accounts and Roths, but need a post tax account for money to sit.

By: J. Money

J. Money — Wed, 28 Mar 2018 12:08:14 +0000

In reply to Paul. You've become a master :)

By: J. Money

J. Money — Wed, 28 Mar 2018 12:06:48 +0000

In reply to Bela. Very interesting! I like seeing stuff like this - thanks :)

By: Paul

Paul — Wed, 28 Mar 2018 03:38:26 +0000

As for the main checking account…a few hundred bucks. Certainly by design. In my financial system, I use a total of 7 accounts (combo of checking and savings). The main checking is used for day to day expenses, such as gas and food (and maybe a few PF books :-) ). No need to keep a bunch of money in there. I used to freak out when I had $100 of less in my checking account, but with the system I now use, having less than $100 right before payday is a good thing…it means funds were allocated appropriately :-)

By: Kris

Kris — Tue, 27 Mar 2018 22:25:44 +0000

I usually keep up to $10K in my checking amount and since we have our paychecks deposited into there I usually transfer money to my savings account or one of my investment accounts if it goes over $10K. Don’t want to have too much in there because like you said your getting that I’m not getting much of return.
And the money in the checking account goes in and out. Along with the paychecks, we use it to pay our bills and rent. So it’s pretty much standard use for a checking account.