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I turned off all over draft on all checking accounts ....our account had an attempt hack ..last thing I want is an unlimited source of funds flowing in
I live paycheck to paycheck. There is 0% interest on checking. What I do is with any left over money, I transfer to savings. That help me pay our annual car insurance.
Here is a problem, if I gas up our car at costco, if you have just under $100, costco won't allow you to pay with your debit card, even though you have the funds to pay!
You should get the Costco citi credit card with no annual fee and get 4% back on your gas purchases. Outside of that you should avoid paying at the pump with a debit card at all costs
Were use to a higher balance and we feel more comfortable with it at this point. Most all bills are set on auto pay now so I like no worrying about if there is money in there or not. We never go below $8-10k. Rest is in savings/investments.
I have auto pay on my credit card (~$7-10K/mo) and household bills from checking, my primary mortgage and 4 of my 5 rentals mortgage deducted every month so we usually have around $35K in there. I have to transfer funds regularly if it goes substantially above that into brokerage or money market. People probably think it's stupid until you look at the numbers and convenience factor.
We are retired and keep about 6 months of living expenses ready to go.. at times it can be a lot more depending if it is the beginning or end of the year
We are also retired and keep about 3 months in our primary checking account. We also have another six months of living expenses in a money market account that earns 2.0% interest. The money market account is with a different bank than the primary checking account. We set up a link between the two so that we can transfer funds any time from the money market account into our primary checking account. We replenish the money market account as needed from our retirement portfolio.
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