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

[Sad Bunny]

Do you agree with this below?

———————————————-

“A common rule of thumb for how much to keep in checking is one to two months' worth of expenses. If your monthly expenses are $4,000, for instance, you'd want to keep $8,000 in checking. Keeping one to two months' of expenses in checking can help you to stay ahead of monthly bills.”

How Much Cash to Keep in Your Checking Account (vs. Savings)

Checking and savings accounts can help you reach different goals. It's important to know how much money you should keep in each one.

time.com

Note: In 2020 the Federal Reserve reportedthat only 64% of Americans had enough money on hand to cover a $400 emergency.

 

[Skooby]

Do you agree with this below?

———————————————-

“A common rule of thumb for how much to keep in checking is one to two months' worth of expenses. If your monthly expenses are $4,000, for instance, you'd want to keep $8,000 in checking. Keeping one to two months' of expenses in checking can help you to stay ahead of monthly bills.”

How Much Cash to Keep in Your Checking Account (vs. Savings)

Checking and savings accounts can help you reach different goals. It's important to know how much money you should keep in each one.

time.com

Note: In 2020 the Federal Reserve reportedthat only 64% of Americans had enough money on hand to cover a $400 emergency.

I only have $400 in my checking. I only keep enough to pay whatever bill is getting paid.

Most gets transferred to investments.

 

[dora_da_destroyer]

Whatever is left from my check after paying bills, and making deposits into investment and savings accounts

 

[UpNext]

I gotta keep 10k in a checking account at all times.

 

[Heafcliffe]

Like above, I keep enough to pay the needed bills and maybe a treat for myself (i.e. dining out once, a piece of clothing, etc).

The rest goes to offshore accounts, b.

 

[Luke Cage]

10k for me too actually. it gets any higher i start moving stuff around to savings and investments.
But 10k is enough for to cover any surprises without having to worry about penalty for taking stuff out of savings and investment accounts.

 

[Neo. The Only. The One.]

10k is a great number.

 

[Address_Unknown]

Whatever you can afford.
Me personally, I got:
5K on the books and 10K in the "Mattress Fund".​

 

[BaggerofTea]

10k at least.


Gotta know I can get myself out of a situation if it comes to that

 

[Neo. The Only. The One.]

10k is a great number.

Also I keep cash on hand for emergencies too. So 10k in the bank plus maybe 1 to 2k in cash? I'm still trying to figure out a good cash number to have. I'm currently trying different things out to see what works best for me.

 

[invalid]

In a passbook savings account, you should keep at minimum three to six months of expenses. Personally, I keep six months of income. Anything else should be invested so inflation doesn't cut into it. I don't keep that money in a checkings account. And I certainly don't hold petty cash that's not accruing interest.

 

[Skooby]

I gotta keep 10k in a checking account at all times.

10k is a great number.

Whatever you can afford.
Me personally, I got:
5K on the books and 10K in the "Mattress Fund".​

10k at least.


Gotta know I can get myself out of a situation if it comes to that

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.

 

[Blankthawtz]

Got my money in 4 diff institutions.. All got 10k+ in their checking/savings..... Don't play with the house money....

 

[⠀X ⠀]

I keep all my money in a shoebox. Word to Fani.

 

[ROFL_GUY]

Got my money in 4 diff institutions.. All got 10k+ in their checking/savings..... Don't play with the house money....

10k+ gets reported to IRS

My boat in Tahoe
my condo in Reno my property
in Palm desert is in moms name .

My Benz van in my granny name