Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I keep a cushion of 1k. After everything is paid, I "sweep" the excess to savings or investments or whatever. Then I get paid again and it starts over.
I like this system because it is so easy to tell if my account is "balanced".
It depends, I like to keep it somewhere around $20K to $40K, I'm self-employed / own my own company, so my variance is much higher than many people. Our business tends to be very seasonal, so summer can be awesome, but winter can be terrible, and while I try to guard against that by keeping $20K in the corporate checking, I need to have my own buffer in case the company can't pay me for months on end. I also have all credit cards set to autopay so if my personal checking dipped below $10K, I'd be worried about a couple of autopay credit cards just dropping it too low for comfort. If I had a regular paycheck, I don't think I'd keep that kind of money in checking. At least I'd put it in a 2.1% savings account or something like that.
it varies from %80-%150 of monthly income.
Which covers 3-6 mo base expenses.
The interest unearned is trivial to me as I much prefer leaving my bills and CC's on auto pay.
Usually $15-20k, and more in liquid assets in my brokerage account - at least enough to cover a full year of expenses.
I'll soon retire, and will start keeping a little more in savings as a buffer. I'll set up my investment accounts to automatically dump an amount equal to my average monthly expenses into my checking account.
Like 500 bucks. I first shunt it into a high yield online savings and then into non actively traded securities. I used to be a FundRise and LendingClub user but have removed most of my money because mutual funds actually exude more money.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.