Author Topic: your checking account balance  (Read 50636 times)

Michelle119

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Re: your checking account balance
« Reply #100 on: August 29, 2013, 09:07:32 PM »
I usually spend down to about $150 in one account, that one has a minimum balance of $100. I also spend down to about $50 in my other account. I generally check my accounts twice a day and know when all my ins/outs are because I have a calendar.

sleepyguy

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Re: your checking account balance
« Reply #101 on: October 07, 2013, 04:55:24 PM »
Between 5-7k.  Would be much less but I need access to fast cash sometimes if there is a juicy live poker game.

Zikoris

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Re: your checking account balance
« Reply #102 on: October 07, 2013, 05:01:20 PM »
$200 max. I'd rather keep my money in investments, and I don't use cash or debit unless I absolutely have to - offhand, I can only think of one store I go to that doesn't take credit cards. It's not unusual for the balance to be below $100.

Melody

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Re: your checking account balance
« Reply #103 on: October 07, 2013, 05:31:07 PM »
I'm probably the girl with $11.00 left!
Direct debits come out of my credit card. On pay day I pay off the credit cards, pay any bills and transfer some money to a high interest account. Then whatever remains in the account is for spending.
I'm rethinking this strategy though as it might be costing me money (for example not able to stock up on things that are on special if it's close the payday) and causes a bit too much stress. I want to make $100 the new zero.

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Re: your checking account balance
« Reply #104 on: October 08, 2013, 05:12:59 AM »
$3k, aka one month worth of expenses.

At the end of the month we drop the checking accounts down to $3,000 and send the rest to savings/retirement.

mustachejd

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Re: your checking account balance
« Reply #105 on: October 08, 2013, 08:13:11 AM »
$2K is my zero.

anneinpdx

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Re: your checking account balance
« Reply #106 on: October 10, 2013, 09:22:57 PM »
Hmmm, you all are making me think.  We currently have about 20k in our checking.  We use YNAB and have a full buffer, several sinking categories, and a 5k e-fund included there.  Our account was getting 1.5% until a couple months ago but the bank dropped it to .5%.  All other savings is tied up in retirement and 529 accounts. 

Do others keep e-fund money in brokerage accounts?  I have a Vanguard account for my IRA but haven't really explored other options.

RobertBirnie

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Re: your checking account balance
« Reply #107 on: October 11, 2013, 01:02:28 AM »
Everyone here is so much braver than me!

For a few years both my wife and I were paid at the start of the month, but our primary credit cards, loan payments and rent were all in the last 5 days of the month. So we kept a large balance in the checking as a buffer because there's no adjusting till the next payday. I currently keep about $8k in the account. I should rethink my strategy though as I changed jobs 6 months ago and get paid twice a month now so I shouldn't need as big of a buffer.

parkette

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Re: your checking account balance
« Reply #108 on: October 11, 2013, 04:42:57 AM »
$2,500 is my zero. It is the minimum to eliminate my fees (saves me $8/mth). I think this minimum is ridiculous, given that it's at a CU.

I have this account linked to my ING account and use ING for pretty much everything. I keep the damage deposits for our rentals in my CU account as that money sits idle anyway. I'm not sure that's a proper use of DDs, but it's been working for me.

chasesfish

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Re: your checking account balance
« Reply #109 on: October 11, 2013, 04:57:22 AM »
Mine is tied to my home equity line, so I can run it thin and have a buffer if I make a mistake.  It goes between $4,000 and $350. 

Vitai Slade

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Re: your checking account balance
« Reply #110 on: October 11, 2013, 06:03:35 AM »
Honestly, I keep very little in my checking account (Usually >$500). I use my credit card for pretty much all purchases that accept it (free 1.25% back!) and make sure I have enough in my account when I make a purchase with e-check or direct transfer. When I get my paycheck all money is already allocated (and sometimes 2 or three or four checks out!) into my vacation account, savings/to be invested account, and other bills such as mortgage, utilities, etc. that need to be paid. I have a set number I like to sock away each month into my 'vacation' account and my 'to be invested' accounts and once I reach that and pay all my bills for that month, I start paying bills for the next month. I run a pretty tight ship so I don't usually have too much excess beyond that. If I do, I pay down the loan that I made to myself (out of my 'to be invested' account) along with the interest that I'm charging myself beyond the normal savings amounts.

Kipp

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Re: your checking account balance
« Reply #111 on: October 11, 2013, 06:39:37 AM »
Right now I am much higher than I would like to be for the checking account, but I am in limbo waiting to close on a house.  I plan on keeping around 5k in the checking (3% interest on a balance up to 15k).

MustacheMike

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Re: your checking account balance
« Reply #112 on: December 01, 2014, 08:31:15 PM »
Reviving this.

$2,500 is my zero. Why? The bank will charge me a $9 fee if my balance dips below that at any time during the month. Going below that is like an overdraft fee!


Cookie78

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Re: your checking account balance
« Reply #113 on: December 01, 2014, 08:39:59 PM »
Wow, my heart jumped just reading that.
I have so many automatic withdrawals I get nervous if it starts going below 3k. I get extra bank charges if it goes below 1k.
Typically I try to keep it between 4k and 10k, but once I get up to 10k I throw 4-5k into investments.

Cecil

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Re: your checking account balance
« Reply #114 on: December 01, 2014, 08:44:56 PM »
I actually try to keep chequing at $0.

I have a line of credit linked, so that I can dip below $0 and I only pay 5% interest on the daily closing balance if it's negative. I usually pay about $1/month or so because the credit card doesn't line up with paycheques, or I get excited and sweep $5k off to the brokerage account a few days early. I figure it's probably offset by the extra investment income I might get.


Emilyngh

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Re: your checking account balance
« Reply #115 on: December 01, 2014, 09:28:43 PM »
Meh.   I usually try to keep more like $50, but it wouldn't be that unusual for me to get down to the $11 range.

I also do a ton a automatic transfers, but I have everything scheduled so that transfers only go out after adequate money goes in.   I don't keep more because I've yet to have a reason to.

If anything comes up that's unexpected I just use a cc and then either transfer in from the few k I have in savings or put less in savings to pay it off.   

pzxc

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Re: your checking account balance
« Reply #116 on: December 01, 2014, 10:06:58 PM »
Instead of keeping a $1k buffer in my checking account, I use Capital One 360 for primary checking and it has a $1k credit limit built into the account -- if I dip below zero, I pay a few pennies at the end of the month, that's all (interest on the amount below zero for the number of days).

This way I can make sure every dollar is invested, but if I miscalculate something and it goes below zero before a deposit hits, it's no big deal.

I know of overdraft fees (and this avoids them permanently), but I've never gotten one of those accounts that has a minimum balance and charges you fees for going below -- that seems crazy, that's like even worse than an overdraft fee!  An overdraft with the bar set higher. I couldn't imagine signing up for that.  What does it get you, like an extra 0.5% interest on your account?  Psshh.

JustTrying

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Re: your checking account balance
« Reply #117 on: December 02, 2014, 01:32:09 AM »
$1500 is my zero. I'd like to do less than that, but I get so nervous, I just can't! However, it used to be $2000, so I've improved a little bit! (The reason I want it low is so that I'm saving/investing my excess $$).

homehandymum

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Re: your checking account balance
« Reply #118 on: December 02, 2014, 02:04:51 AM »
We don't have a checking account as such.  Part of our mortgage is a "Flexi-payment account", which operates like a giant (and I mean giant) overdraft, with interest charged at mortgage lending rates (6.15% at the moment for this part of the world)

We track end of month totals and are comfortable if the balance shifts more than $1k towards $0 each month, but try and aim for $2k. 

This arrangement means that we can fast-track mortgage repayment (which makes sense at those interest rates) without financial penalty, so long as we have the discipline to keep heading in the right direction.

Also means we don't need an emergency fund - we can just spend the money and it goes on the mortgage, without needing to refinance, or even talk to the bank at all, because we are a long way from our limit in that account (deliberately set up that way as we anticipate some major repair work this year on the house).

Self-employed-swami

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Re: your checking account balance
« Reply #119 on: December 02, 2014, 03:01:37 AM »
I am self employed, so I pay myself $1000 every Friday.  By Saturday, investments come out ($300), mortgage ($87), travel/fun savings ($100) and emergency/house repair fund ($100).  The rest just hangs out. Right now I have $456 in there.  All our regular spending (groceries and whatnot) go on our air miles master card.  If we make a large purchase, that gives me enough time to transfer out of our ING accounts, in time to pay the CC bill.  My husband gets paid on weird dates, like 4 days after our CC bill is due, and on the 1st of the month from his other job.  So, sometimes we have $0 or a small negative balance between the 5th and the 10th of the month.  I check the account balance almost every day, so I can easily transfer some cash out of our LOC to get the balance above 0 before we actually pay any overdraft interest (which is only at 7% anyway, so some months we might pay $1-2 in overdraft interest).  Then on random days of the month, the automatic payments come out (utilities, vehicle insurance, house insurance, life insurance, student loan payments, all of which are $250 or less).  We have $2500 or $5000 in overdraft protection (I can't remember) so we've never bounced a payment, even the few times that I've forgotten to do my own payroll until Monday instead of Friday.

johnny847

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Re: your checking account balance
« Reply #120 on: December 02, 2014, 06:39:10 AM »
$2,500 is my zero. It is the minimum to eliminate my fees (saves me $8/mth). I think this minimum is ridiculous, given that it's at a CU.

I have this account linked to my ING account and use ING for pretty much everything. I keep the damage deposits for our rentals in my CU account as that money sits idle anyway. I'm not sure that's a proper use of DDs, but it's been working for me.
Reviving this.

$2,500 is my zero. Why? The bank will charge me a $9 fee if my balance dips below that at any time during the month. Going below that is like an overdraft fee!
You guys need new bank accounts. Plenty of online only checking accounts have no fees. And they usually have ATM fee reimbursals, so you can get your cash from any ATM, not just your bank's ATM. Some good ones are Ally, Charles Schwab, Capital One 360, etc.

Mesmoiselle

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Re: your checking account balance
« Reply #121 on: December 02, 2014, 07:53:30 AM »
I keep one month of expenses in my checking. 2-3k. Everything else goes to debt. In the future , every 1k of extra will buy funds. My balance rarely goes under 1k any more as I run all expenses through rewards cards, pay off balances as I go.

Use YNAB to keep track of it all.

begood

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Re: your checking account balance
« Reply #122 on: December 02, 2014, 09:48:22 AM »
The answer is WAY TOO MUCH. I'm now using some advice I learned on here and checking the balance on the same day each month (the 15th, in my case) since paychecks and payments come and go throughout the month.

My floor is $10K. I'm trying to get through a whole year of not dipping below $10K in checking. Then maybe I'll see about moving some of it up and out, even if it's just into a CD with a higher interest rate.
« Last Edit: December 02, 2014, 11:00:22 AM by begood »

AlanStache

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Re: your checking account balance
« Reply #123 on: December 02, 2014, 10:46:08 AM »
The answer is WAY TOO MUCH. I'm now some advice I learned on here and checking the balance on the same day each month (the 15th, in my case) since paychecks and payments come and go throughout the month.

My floor is $10K. I'm trying to get through a whole year of not dipping below $10K in checking. Then maybe I'll see about moving some of it up and out, even if it's just into a CD with a higher interest rate.

10k is probably WAY TO MUCH unless you have some special things going on.  Unless you count that as the cash percent of an investment account.  I use to keep this much around too, was really just a safety blanket.  10k at 7% for five years becomes 14k without any more deposits; 10k at 0.5% comes to 10.2k after five years.

begood

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Re: your checking account balance
« Reply #124 on: December 02, 2014, 10:59:59 AM »
The answer is WAY TOO MUCH. I'm now some advice I learned on here and checking the balance on the same day each month (the 15th, in my case) since paychecks and payments come and go throughout the month.

My floor is $10K. I'm trying to get through a whole year of not dipping below $10K in checking. Then maybe I'll see about moving some of it up and out, even if it's just into a CD with a higher interest rate.

10k is probably WAY TO MUCH unless you have some special things going on.  Unless you count that as the cash percent of an investment account.  I use to keep this much around too, was really just a safety blanket.  10k at 7% for five years becomes 14k without any more deposits; 10k at 0.5% comes to 10.2k after five years.

It is absolutely a security blanket, AlanStache. I also have a year's expenses (including private school tuition) in a MMA earning graham cracker crumbs. And as the market continues to rise, all I want to do is scrape off some of that excess and put it somewhere "safe". It's a really hard impulse to tamp down. I'm good about NOT selling in a downturn, but I still seem to want to cull off the top in an uptick. I've never done it, but I WANT TO.

For us, the liquid stash is a bulwark against job loss (which in our case would also mean house loss - we live in housing provided by his employer). I'm keeping my eye out for CD rates over 1% for 1-2 years - PenFed just dropped theirs to .8%. :(

Datastache

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Re: your checking account balance
« Reply #125 on: December 02, 2014, 11:22:28 AM »
Count me among the $1-2k crowd. I currently keep another $1-2k in a savings account as kind of a secondary backup, but sometimes I'm tempted to just throw all of that into one of my retirement accounts or use it to help pay off my (low-interest) debt earlier.

RelaxedGal

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Re: your checking account balance
« Reply #126 on: December 02, 2014, 11:29:31 AM »
I've enjoyed reading this, and everyone'e viewpoints. 

Now: We have 1 checking account and 1/2 month expenses ($4,000) is our zero.  We automatically transfer 1 month's expenses from savings to checking every month - paychecks are auto-deposited into savings.  We don't keep close tabs on things; everything is auto-paid.  The buffer is for big spending months. We true up every month or two.  We have 1 checking (local credit union) and 2 savings accounts (local credit union with low return but easy access, and a CapitalOne 360 for the majority).

Before: He kept a full month's expenses as his zero in the checking.  I was the $11 girl and preferred actual zero.  I arranged all of my accounts to be billed on or near the same day so once/month I could transfer over the correct amount.  We had 3 checking accounts and 3 savings accounts (his, hers, and ours).

BBub

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Re: your checking account balance
« Reply #127 on: December 02, 2014, 11:32:59 AM »
between $500 and $3k, depending on whether it's the beginning or end of the month. 

BBub

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Re: your checking account balance
« Reply #128 on: December 02, 2014, 11:34:25 AM »
between $500 and $3k depending on whether it's the beginning or end of the month. 

samburger

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Re: your checking account balance
« Reply #129 on: December 02, 2014, 11:44:43 AM »
Wow, this thread is way more interesting than I expected. Such simple people we are, dazzled by checking account balances.

We usually have $3k-6k. I use the YNAB method, so I always have this month's expenses + next month's expenses. That includes lumpy expenses that we save for each month, so right now we have $6,500 and we're about to drop $2,000 of that on tuition.

I'm a SUPER nervous person, so I rest (and invest) much easier with a month's buffer.

Etihwdivadnai

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Re: your checking account balance
« Reply #130 on: December 02, 2014, 12:01:52 PM »
20K to 25K because my "zero" is 20K and that is because my chequing account currently pays 3% on balances up to 20K
It only hits the 25K on pay-day at the end of the month.
Next day (1st of the month) all the regular monthly bills are automatically paid.
Then any "excess" beyond anticipated cash and known credit card spending is swept into another savings account.
When I get any cash out of the bank I write the date of withdrawal on each note in pencil.
I currently have 2 x 20, both dated 20-Sep-2014 which is the last date I withdrew any cash.
Sadly, I can remember all the details associated with both debit and credit cards so I actually need no access to any of them or cash to be able to spend money on the web which is why I rarely carry a wallet.
And I have automatic alerts when chequing account goes outside these thresholds or my credit card balance goes into *any* debit balance.
P.S. Basic annual spend is 25K so this is nearly 1 year's "emergency fund"
« Last Edit: December 02, 2014, 12:10:35 PM by Etihwdivadnai »

Jags4186

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Re: your checking account balance
« Reply #131 on: December 02, 2014, 12:07:05 PM »
I have two checking accounts, one is an online Schwab (for free ATM withdrawals) and then another brick and mortar which I do my normal bill pays out of.

My Schwab regularly is below $100 because I usually transfer in $200 and then ATM withdraw from it until its below $20...then I transfer in anther $200.  I prefer to have a brick and mortar bank for my regular banking needs (even though I go there maybe three or four times a year max).

Timmmy

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Re: your checking account balance
« Reply #132 on: December 02, 2014, 12:18:18 PM »
It depends on the time of the month(I think).  Almost all my bills are due at the beginning of the month and I also make transfers for savings at the beginning of the month.  All bills are automatically drafted from the account so I make sure there is enough to cover almost all bills.  DW and I budget a months worth of spending before every month begins (Dave Ramsey style) and then track, via a spreadsheet, spending throughout the month.  Any money not spent from the budget gets transferred out at the beginning of the following month.  All that to say...  I have no clue where my balance is most of the time.  I know that I spend slightly less than what I put in to the account every month and so the balance creeps up slowly and I haven't had to worry about the balance in years. 

red7

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Re: your checking account balance
« Reply #133 on: December 02, 2014, 12:32:43 PM »
I used to cut things much closer, with $500 in my checking and everything else in savings. I wasn't earning much from my job though, so even then, I was only ever able to amass about $4K in total. Still, I loved to play games to see how much I could transfer to my savings and just how low I could let my checking account get. ($1.15 is my personal best.)

Now, I tend to keep much, much more. Until I moved some of it into investments, I had well over $10K combined in all of my checking/savings accounts (it basically sat there for all of November). I'm trying to talk myself into keeping something closer to $4-5K, but it's hard for me to feel comfortable with that, given how much I've had to help my mom/parents the last year or two.

I had barely started my much-higher-paying tutoring gig when mom's chronic illness decided to really wreak havoc. Eventually, she was out of work for over 10 months with NO income whatsoever -- I ended up making several mortgage payments for my parents and paying for food, doctors' copays, prescriptions, etc.

Luckily, they didn't run out of savings and need me to step in until the super-busy "Spring Testing Season", so I was able to cash flow most of the expenses. BUT if they'd needed my help in, say, June through August...well...let's not think about that. Even with the big cash flow, it depleted my savings to less than $2K for a while.

So I now tend to err on the side of huge, heaping helpings of caution, even though I'd be fine with $500 or so if I only had myself to worry about.

Dr. Doom

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Re: your checking account balance
« Reply #134 on: December 02, 2014, 12:38:09 PM »
Around 500.  If I'm over 1K, that's a signal that it's time to transfer money into index funds.

I also have a close to zero balance HELOC I can charge stuff to, write checks off of, or even grab cash from out of an ATM if that's what I need -- and it's very rare that I have to do this.  The more convenient your fallback options are, the less need there is for much money to be in your primary checking IMO.

I use CCs for most day to day transactions anyway. 

yyc-phil

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Re: your checking account balance
« Reply #135 on: December 02, 2014, 12:41:52 PM »
I am very bad at investing and making my money work, so I sheepishly admit that I usually keep between $5 and $7 K in my two bank accounts, just to avoid paying bank fees. Even after cleaning out all our cash savings to buy a small acreage a couple of weeks ago, we are again at about $10K, and more at the end of the week when our paycheques will be deposited. Being frugal and being able to save more than 50% of our income is one thing, but not knowing sqat about investing is a weakness I really need to address. I got to start reading up.

Beric01

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Re: your checking account balance
« Reply #136 on: December 02, 2014, 12:43:11 PM »
I try to keep $2-4K, and invest everything else. With my rent, credit card and other auto bill pays, I just want to be safe, though it kills me to not have everything in the market. But right now I'm doing a fast buildup to ~$15K for year-end, as I intend to:
  • Max out my 2015 Roth IRA starting the first of the year
  • Front-load max out my 2015 401(k) starting the 1st of the year, living off savings

BarkyardBQ

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Re: your checking account balance
« Reply #137 on: December 02, 2014, 12:53:50 PM »
$500.

The checking account pays a nominal interest rate for any balance over $500, with no fee for going below and pays as long as there is $500 by months end. So if something happens or we need cash we can get it, otherwise we see $.01 added to the account at the end of the month. We rarely use cash. After payday and expenses (on cards), the account is lowered to $500 and the pennies make their way to the savings account, which makes it's way to Vanguard to start making more pennies.

prudence

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Re: your checking account balance
« Reply #138 on: December 02, 2014, 01:22:46 PM »
My average balance is between 1 and 2k. I have been as low as 11. on the rare occasion, usually the day before my pay hits, but I have my electronic payments scheduled very carefully.

SporeSpawn

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Re: your checking account balance
« Reply #139 on: December 02, 2014, 01:34:00 PM »
5.5k.

Part of the reason is I'm planning a move and need about that much accessible. But mainly, I have about 500 in average expenses each month and 5k is my standard "emergency" I worked out on the last budget.

Gone Fishing

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Re: your checking account balance
« Reply #140 on: December 02, 2014, 01:42:10 PM »
30 days worth.  I have overdraft, so I could go lower, but it is just how I have always done it. 

Jessa

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Re: your checking account balance
« Reply #141 on: December 02, 2014, 02:01:14 PM »
I direct deposit only the amount I budget for the month into checking, so it goes in and then goes back out, either via rent check or credit card payment. The current balance is about $300 something, but I often go under $100. The only time it's over $600 is waiting for a check or payment to clear through. All my direct debits go to the credit card, so there's no danger of anything hitting that I wasn't planning for. I have 6 months of expenses in a savings account that can easily be transferred in an emergency, but I keep a very low checking account balance.

BBub

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Re: your checking account balance
« Reply #142 on: December 02, 2014, 03:12:01 PM »
between $500 and $3k depending on whether it's the beginning or end of the month.

To elaborate, this is just my balance in checking at any given time.  I have a money market backing up my checking acct that currently has too much cash, about $30k.  The first check or two of the month tops the account back up, pays the mortgage, then I sweep the rest into money market throughout the month as it comes in.  I'm planning to invest a good portion at the beginning of '15 but will leave $10k in the money mkt as a buffer.  I also have a line of credit and CC's w/ $25k available and a zero balance... probably way too much safety margin.  But I'm admittedly a wuss in this area & I sleep well on my big cash mattress.

MarciaB

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Re: your checking account balance
« Reply #143 on: December 02, 2014, 03:49:52 PM »
I keep between $500 and $1000 in checking, with $500 being the "zero."

I've arranged my auto pays (utilities, rent, etc.) for the first week or so of the month, so that by the 10th I know how much I can move over to savings (and then eagerly run over to my spreadsheet to calculate my savings rate for the month - I'll be at 45% for 2014 - go me!)

minimustache1985

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Re: your checking account balance
« Reply #144 on: December 02, 2014, 04:17:18 PM »
1k is my "zero" as well, although I might dip slightly below it in a high expense month (like when a once-yearly bill comes due) but never ever under $500.  Typically I have 2-3k in my checking depending where we are in the month, when it gets higher than that it's time to transfer some.

That's just checking though, I keep one month's expenses in the corresponding bank savings account and 5 months at Capital One 360.  It feels silly large sometimes but it's a very cozy security blanket since my job isn't the most stable.

nereo

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Re: your checking account balance
« Reply #145 on: December 02, 2014, 04:33:36 PM »
Look at this guy. $200 in his checking account and over $7 million in gold bars/coins in his garage.

http://www.huffingtonpost.com/2012/09/17/walter-samasko-recluse-dead-7-million-gold-coins_n_1891067.html
oh... the irony of an anti-government recluse having his $millions carted off in wheelbarrows by the Carson City police to be officially categorized, dutifully reported to the IRS and then transfered to a first cousin whom he appears to have had little-to-no contact with.  I do wonder how someone gets $7M in a non-appreciating asset like gold without working for four decades.

hey! he's the Precursor MMM!

EDIT:  Oh, to answer the OP's question - $100 is my floor, since below that I start to incur fees.  My balance is usually a few hundred, and anytime it drifts into four-digit territory I move some into my index fund.
BTW, anyone else give pause when some random guy on the internet (Sol in this case) asks for your checking account balance?  Next he'll start a thread asking for your mother's maiden name (j/k)
« Last Edit: December 02, 2014, 04:39:51 PM by nereo »

arebelspy

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Re: your checking account balance
« Reply #146 on: December 02, 2014, 04:45:42 PM »
I do wonder how someone gets $7M in a non-appreciating asset like gold without working for four decades.

Do you mean non-compounding?  Because gold does tend to appreciate.  I'm sure it wasn't $7MM real when he bought it.
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nereo

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Re: your checking account balance
« Reply #147 on: December 02, 2014, 04:47:48 PM »
I do wonder how someone gets $7M in a non-appreciating asset like gold without working for four decades.

Do you mean non-compounding?  Because gold does tend to appreciate.  I'm sure it wasn't $7MM real when he bought it.
yes, point taken.  I meant non-compounding.  Gold prices jump all over the friggen place but over time they tend to appreciate about as much as inflation.

kib

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Re: your checking account balance
« Reply #148 on: December 02, 2014, 04:52:50 PM »
1k-5k as I got rid of all my credit cards years ago.  I keep enough that if I have some sort of car tragedy i wont have to go to the bank but can just swipe my debit to get it fixed.  I have a separate savings account with my emergency fund in it that is not coupled with my checking so someone cant empty me out if my debit card gets stolen.

+1

midweststache

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Re: your checking account balance
« Reply #149 on: December 02, 2014, 06:44:55 PM »
I keep enough in our checking account to pay this month and next month's bills, according to our YNAB budget (Rule 4). This is generally about $7,000.

Anything in excess of that goes toward extra student loan payments.