STITCH: How much do you keep in a checking account? Explained.

STITCH: How much do you keep in a checking account? Explained.

[Melindaknows]

Wow. I'm shooting too low 😂 I try to keep a buffer around $500 to $1k in my checking and so far that is working for me so I'll keep doing this for now😅

[EvanKnightIsGood]

My paycheck gets deposited into my checking account, but from there I move the money to various high yield savings accounts and pay bills. My goal is to have $0 in my checking account by the time my next paycheck hits as if I overdraft it will just pull the money from a savings account. I have a large emergency fund in a high yield savings account.

[rebeltheharem]

I keep an accurate record of how much I have due and when, so I only keep the bare minimum in my checking account, which is about 1k at any given time. Everything else is in my HYSA, which is slowly fed into my investment account with reoccurring weekly investments.

[Anngrl]

I’m building up to a $10, 000 emergency fund and recently had to pull out $600 to make sure I didn’t overdraft 😓

Was a good lesson not to be too zealous with putting cash in the HYSA before knowing I can pay all my bills

[izzyinsync]

Keep about $10 in checking 😅 Rarely use a debit card and transfer money to make payments on my credit cards

[magicprincesslive]

I keep about a $500 - $1000 buffer in my checking account on top of what my regular monthly expenses are (rent, bills, etc.) 20 - 30% of every paycheck gets moved to my HYS account as an emergency fund and to pay for the taxes I owe every year, and the rest goes straight into my stock account.

[AndrewOjeda]

At the end of bills and everything, I aim to keep it around $200….. Maybe playing with fire, but moving money from HYSA to my checking doesn’t take too long and I tend to be on top of where everything is.

[jlr_]

I don't even have a buffer and heavily rely on my accuracy to pay bills.... Plus overdraft protection in play 😅

[lordpuppyrd]

No need to have that much. Your pay schedule and bill schedule is a closer representation. Just depends how detailed you want to go. If you get bi-weekly you may be able to get away with half the amount since your funds replenish every other week.

[don]

I use my brokerage cash management account as my primary bank, so I can transfer from money market (5%) to checking and have instant access.

[terrancepinkney]

I just started my HYSA @5.25% I'm never going back!

[TheMerFree]

The hypothetical is if you spend around 2k/month? Bare minimum living expenses for where I live are at least 4k/month. Single income with kids, rent, medical insurance, medical care, car maintenance, car insurance, food costs, the utilities, the cell phones for 3 people, and more. Maybe people who live rent free can survive on spending 2k/month.

[societykrew]

I only use it to fund my brokerage accounts, cc bills, HYSA, and any bills that can’t be paid with a credit card lol

[Bur]

I keep next to nothing in checking. I have it all in my HYSA then transfer to checking only when it’s time to pay bills.. as for everyday purchases, I use cash back reward ccs to pay for everything then pay that bill monthly..

[isaacl]

I keep my emergency fund in my checking. Its usually around 10k but I want to keep a good amount in there in case I get a call from my AD to buy a Rolex 😅😅 then I’ll need 10-15k in cash

[aliali-ceyf]

where does the money come from that banks use to pay you interest?

[diswood]

I keep one penny in my checking. I use a credit card for everything

[traciesmobile]

I keep zero in mine. Then literally transfer when I go to the shop.

[jamiewoodward]

My money instantly goes into investments unless I don't see anything of value at the time

[pisodemarcia]

Just watchout cuz if you take your $$ before time you get penalty fees