What’s the minimum amount that should be kept in your checking account at all times?

[BaldingSoHard]

Link me breh

It's for Schwab customers. You have to open a bank account with Charles Schwab to access the fund.

 

[Absolut]

The question is checking account...not savings. You all keep that much in a checking account?

I have an emergency fund in a high yield savings.

Yea has to stay in checking to be instantly liquid instead of worrying about transfers between banks etc

 

[Da_Eggman]

i am to always have 1500

 

[Scaaar]

After bills and putting into savings and investments. My motto is once I drop to $2500 in my checking account I'm broke until I get paid again .

 

[Toe Jay Simpson]

I got credit cards for that

 

[Shadow King]

This type of stuff is why I always go to bat against situations talking about "making it work".

There's so many rules of thumb about healthy financial habits that cannot be met with certain wages vs COL.

 

[Mass]

20 large

 

[Vaselclean]

What about your daily and weekly expenses though?

Shopping? Dinner? Concerts and travel etc.

A 2% rewards card. Pay the entire balance monthly.

 

[Sad Bunny]

A 2% rewards card. Pay the entire balance monthly.

Make sense.

 

[MR. SNIFLES]

ENOUGH TO COVER WHATEVER YOU SPEND PLUS $500 FOR EMERGENCIES.

 

[Vaselclean]

nikkas got that bail money on deck. lol realistically why would u need more than 3-4 thousand sitting in a checking account for?

To earn interest. You don't need a savings account if you have high yield checking. I earn 5% apy.

 

[Sir Richard Spirit]

I have a $4200 in my savings account and $1831.78 in my checking. I get paid tomorrow.

$10,000 is not a realistic number for the average American IMO. My $4200 will be down to $1800 once I figure out where I want to fly to this summer.

 

[murksiderock]

I have a $4200 in my savings account and $1831.78 in my checking. I get paid tomorrow.

$10,000 is not a realistic number for the average American IMO. My $4200 will be down to $1800 once I figure out where I want to fly to this summer.

Man they say the average American doesn't have $500 saved up. So that should be the start, or really, the answer to this question is based on what someone currently earns and what they currently have in the hole...

$10,000 is absolutely unrealistic for most people...

 

[Brolic]

What about your daily and weekly expenses though?

Shopping? Dinner? Concerts and travel etc.

You’re paying for that with a debit card??

I thought the Coli was financially literate.

I usually keep a few hundred dollars in my checking. I have 3 months worth of expenses in my HYSA. I only use credit and I pay off the whole balance at the end of each statement.

 

[Van Cleef]

250k because they wat FDIC insured