Is It Bad That I Keep $0 In My Checking Account?

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Title	:	Is It Bad That I Keep $0 In My Checking Account?
Lasting	:	10.28
Date of publication	:
Views	:	9,3 rb

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Comment from : @sallyjace5846

I keep around 10k in checkings The rest of the money goes into fixed income securities and brokerage accounts 23 yr old male
Comment from : @adamasimolowo8285

I keep $1200 in my checking account above my expenses
Comment from : @libbysworld7649

My goal is 1k to start with and build it up from there I probably want at least 3 months ahead and for savings/emergency funds I want no less than 12 months worth
Comment from : @AmericanPatriotANomad

I keep between $2,000 to $3,000 in my checking account It's a little over a month's worth of expenses brbrI keep about $14K in high yield savings for emergencies and short term expenses Like you I put large unexpected expenses on a credit card to get points and give me time to transfer money from savings
Comment from : @RandomJane104

I don't let my checking account go below 5K, but also keep a couple savings accounts for different things Have one for house expenses with 5k, one for car expenses with 1500, and another miscellaneous with a grand Also keep about 6k in cash at home
Comment from : @helomech1973

Not on purpose but I seem to have a years salary in my checking account
Comment from : @lidarman2

Love your channel Erin!! Been watching for a while now Is it just me or does your video background get lighter and darker? I'm not sure if it's an effect of you moving and the camera trying to correct and overcompensation and dimming? Just something I noticed LOVE your content!!!
Comment from : @e30m3mike

You don’t need an overdraft It makes you tempted to use it
Comment from : @martinmowbray4304

Keep under 100 in checking but hsve 6 months in savings plus take 100 to 200 addl for emergency fund plus put aside $im under budget every month Can never be too safe Charge very little on cc and pay off immediately its posted so not ever to carry over balance
Comment from : @ronrae4029

1 month buffer minimum at all times! I use auto-bill pay for as much as possible and I don’t want to have to babysit my balance This is all about liquidity, so it’s serving a task I’m willing to let that small amount earn nothing & consider it part of my emergency fund
Comment from : @chemquests

Sallie Mae money market account has check writing and is paying 32
Comment from : @stevennevins6643

2 months of full monthly expenses Our bills are paid from our checking account brAlso, our checking account requires at least $15K in order to avoid fees and receive other benefits
Comment from : @IrisP989

We keep a lot more than we should but until recently the money markets did pay anything either Still don't get much in the money markets I have been doing some T-Bills and some special rate CDs with longer term money lately I know some like using high yield savings accounts at other places but I don't much like moving money between financial institutions that much Mostly goes in one direction for me like from checking to brokerage account
Comment from : @gcburkett

I keep $0 in my checking and all my bills are pulled from savings because that silly maximum withdrawal limit has not been enforced since Covid
Comment from : @Tesla-Cannon

1 Enough to keep from paying a minimum balance fee 2 Enough for all monthly expenses 3 Enough to cover at least a $1000 emergency 4 Enough to prevent over drafts I really, really don't like having to withdraw money from savings and I avoid it if at all possible
Comment from : @barbaratozzano6364

Mine is kinda wordy I'm paid 26 times a year which means I have two "extra" paychecks The extra is used for vacation I do ZBB with a twist With each paycheck I keep $43333 and each week I withdraw $20000 the extra $3333 is to cover my weekly withdrawals when I'm saving my extra paychecks for vacation
Comment from : @richsamuel2922

I keep the amount needed to prevent all service charges plus a $100 buffer
Comment from : @markbernier8434

2k
Comment from : @miked3340

I have 13 months of expenses in my emergency fund (high yield acct) I also keep 3 months of expenses in my checking My goal is to never rob the high yield account and keep it growing I keep the expense checking at the necessary balance for emergencies I also have a 401K with match, deferred savingS account and a traditional IRA
Comment from : @kimmietalksfinance

My checking is my transaction account (pay bills and deposit checks) and I never let it get below $1000, but I have multiple other accounts dedicated to emergency savings, investments, vacations, and taxes/insurance Thinking about adding another savings account for Taylor Swift concert ticket savings 🙂 - jk
Comment from : @kevinmcnally3811

Hello i like you channel thank you can you pls review Bask Bank giving 410 on a 1 yr CD Only if you could Thank you
Comment from : @hlaccount

$100 max Transfer as much as possible to savings
Comment from : @bss6565

I have 395 is in mine right now I keep most of mine in my savings account at 395 6 months expenses worth on my savings account
Comment from : @karlosm2730

I usually have about £8 to £10k in my current account Pretty arbitrary figure but only usually move money out when it goes above £10k I consider it part of off my emergency fund With low interest rates I have not tried to sweat every penny but as interest rates have gone up it its probably worth revisiting the strategy (well lets face it apathy) Thanks for the prompt
Comment from : @beddlington

This is the kind of information that our schools should be teaching our children
Comment from : @eugue2000

I try to keep around $1K myself in my checking account Sometimes I fall below, but not often
Comment from : @josephstevens9888

We keep about $20K in our checking account and $10K in savings Looking to move $20K to HYSA and $10K to checking
Comment from : @Corey25

$ 100 in chk 1 month worth of expense in savings i have high limit credit card and heloc for large unexpected expense about 65 of hh income goes to investment, never paid any bank fee nor interest for cc, pay off by due date key is as you said budget i know exactly how much the bills going to be so i can plan everything around the core bills
Comment from : @mohammadaaziz

$50 And I only keep that much because Im too lazy to figure out how to stop annoying alerts from the bank when it gets under 50 I dont pay bills on due date I pay them as soon as I get paid, invest most of whats left, and put the last chunk in short term CDs/treasuries I have a Heloc that I can tap into in case I need the liquidity which Ill quickly pay down later
Comment from : @SirBitStack

I keep between $2500 and $3000 in checking and roll $800 per week from an IRA and get around $2500 from Social Security It stays reasonably balanced that way and if the balance builds up to around $5000 I move a couple thousand to savings and take my wife out to dinner
Comment from : @anemoneii

Hi Erin, you seem to be under the weather based on your voice I hope you'll feel better 🤗
Comment from : @ramenandgyoza702

Zero based budget here At the end of every month I have $000 in my checking account
Comment from : @CB_4216

All my readily available money including emergency fund is stored in my checking account, which has about $10k, withdrawn periodically from my retirement funds The right amount for your checking account is never a certainty, because you never know when a sudden, big expense would occur Home repairs, car repairs, accidents, injuries, and many other things could incur big spending in a short notice And credit cards can't pay for everything
Comment from : @rabidfollower

I transfer over $ from my MM account to my checking as needed with bills as some months are more challenging than others with School tax, Property tax , house and car insurance payments , condo rental ect I rather get the interest i can in the MM and always leave 1 K in my checking Easy to do on line as needed Erin , are you sick ?
Comment from : @kevinhoock9742

Hi Erin, brI keep approximately $1000 as a buffer I pay for just about everything with a credit card (never carry a balance)
Comment from : @jefferymccauley9548

I try to keep at least $10,000 at all times
Comment from : @scottthomas1894

I generally aim for $1000 in my checking with the lowest at $100
Comment from : @bigbirdthug

We used to keep $3,000 as a baseline in checking, but last year we had an overdraft (first ever) when I failed to keep track of a property tax check for $3,300 (Physical checks are for the birds) We've since bumped up to $5,000 as the baseline, which ensures that no forgotten transactions can cause an overdraft However, I never knew you could connect a checking account to an external bank's savings account I'm about to look into that for my bank immediately after this comment That would allow us to drop our baseline back down
Comment from : @damontolhurst

Mam , can you make video’s about insurance products?
Comment from : @KOKISABA

I only keep enough in my checking acct to cover my known expenses form pay to pay and beyond that I have a small emergency fund in high yield savings If I ever have a huge unexpected expense that my emergency fund can't cover, which is highly unlikely, I have a cash back credit card that I can use for that expense I simply don't believe in keeping a bunch of cash on the sidelines, allowing a greedy bank to make money on it while paying me nothing I am more than willing to accept a bit more liquidity risk in order to have as much of my money invested and working for me as possible
Comment from : @dlg5485

As a subscriber, I'd like to thank your husband for serving in our USA military Much respect and appreciation!
Comment from : @dbdouglas

I keep 6 months of bill coverage in my main checking account at my physical bank Along with a large amount of money in my online checking and savings account Mostly because I have two 2 bedroom condo units that I rent as Air B&B It covers electricity, insurance, taxes, HOA costs, and any repairs that may come up
Comment from : @derek8239

I love the way you think Exactly the way I do it
Comment from : @bland3282

I keep $1000 in my main checking account that I pay bills from and $100 in other checking accounts I use for specific purposes I let my paycheck money accumulate in my checking account until I pay my monthly bills If I have over $1000 left after paying bills, I move the extra to my savings account If I have less than $1000, I take money out of my savings account to bring it back to $1000 The same goes for my other checking accounts except the buffer amount is $100
Comment from : @brandonblahnik6002

These days you clearly want to be cash poor but asset rich The less currency you keep in an account, the less them bankrupt banks can steal from youbrWhat's the difference between money and currency anyway ?
Comment from : @billspencer8540

I keep $30 in my checking and $500 in my savings account I do get paid weekly, and just put everything on the CC and pay it off each week
Comment from : @johnforsyth6954

I have 2 checking accounts that pay 3 interest up to $15,000 So I keep close to $30,000 in my checking account My overflow savings account also pays 3 also and I keep $50,000 to $100,000 I also have a HSA account that pays 2 I deposit the max I can in my HSA to reduce my tax base
Comment from : @bhepner1

I do my checking directly out of a brokerage account, so it's hard to say what my "checking" balance is exactly, but it would be a bad day if I overdrafted it 😋
Comment from : @jayhimes5016

I keep about 2-3 months of expenses Up until last year I would keep all of my money in my checking account I was focused on paying down student loans before Now I’m focused on putting my money to work
Comment from : @LaTonyas_Library

$0-$500 is all I keep, nothing more! I know that doesn't surprise you 🤣🤣🤣 I'd cry if my money was making that little
Comment from : @roburb73

I agree 100 with you’re method That doesn’t make sense to me to keep that much money in a checking account collecting very low to no interest When you can put it in your savings account and just transfer it over if you really need it Great video
Comment from : @Dmindthinker011

I keep 1 month's worth of expenses in my checking account Did you see that Bask Bank has gone to 378 APR?
Comment from : @TJW68

Your voice is different in this video We're you sick at the time of recording ?
Comment from : @BrokeToSemibroke

Its smart, not bad
Comment from : @hkmp5kpdw

Is Erin fighting a cold today? It might be me, but she sounds a little hoarse That being said, I usually try for $500 - 1000 over what I expect bills to be and that is with a checking account that is paying 300 on checking accounts that have direct deposit with them If I need any extra, I can transfer it in from my brokerage account in a day or two
Comment from : @BoxOfRain

I try to keep a small amount in my checking, just enough to avoid overdraft fees I also have about $200 in my bank's savings account as overdraft protection
Comment from : @fredswartley9778

Hi Erin I am like you I keep pretty much keep what my expenses are in my checking But I use my ATM a lot! Old-school Tim! I hope you have a great weekend and stay warm out there in Rhode Island!
Comment from : @timvincent2069

I like to keep my checking account above $1,500 at the end of the month I feel really uncomfortable when it's under that because it's less of a cushion before having to tap into my emergency fund
Comment from : @Harvest717

We pretty much do the same as you, and I like to keep about $500 buffer in checking All the rest is in other accounts You sound like you have a little cold, so hope you feel better
Comment from : @johnmiech3544

Passed this one on to the kids Erin, great rules to follow I'm the same way I have never used an ATM card, my wife has one but I don't think she uses it very often, (but I would never ask) if I need cash I go to the bank But when I pay with cash all I can think about is there goes some Alaska air miles down the drain Sounds like you were under the weather a little, I hope you three have a great weekend
Comment from : @kirklandphil

I have 3 checking accounts a personal and 2 businesses my person checking account has a minimum balance without fees of $1500 and my buisness minimum without fees is $3500 so I keep around 10k spread between them as my emergency fund In both businesses there aren't really any costly emergencies that can come up and 10k is about 10 months of my personal expenses
Comment from : @flat4314

I treat the first $5000 in my checking account as my zero balance I also have a money market account at Vanguard that is currently offering 37 interest It is very easy to transfer money between the accounts
Comment from : @jamesodell3064

We are 70 and we average $100,000 in our checking, don’t tell me that it’s dumb we have always been conservative!
Comment from : @stevechristiansen8183

Was just thinking about this
Comment from : @hownwen

I keep all spending in checking plus a buffer, normally I shoot for 2 or 3 months income just sitting there Now the funny part, because there funds there I'm able to cash flow simple emergencies like new tires, or a small car repair without touching my emergency funds
Comment from : @dblclick

I've actually switched from a checking account to the Fidelity cash management account and keep about 6 months of expenses It simplifies my finances The account has no fees, I can buy money market funds from the same account to get higher yields on cash and I can get FDIC insurance up to $125 million
Comment from : @RooseveltAnderson

My routine is to check every Monday, and see what bills are expected that week I make sure I have around $1000 more than expected bills for the week The rest goes in Savings That way if something unexpected shows up, I'm ok I have plenty in the savings account that I can transfer over instantly if something unexpected comes up
Comment from : @jonmeilstrup5419

$8K I think the 2 month target is pretty reasonable for retirees When I was your age and working, I just strived to never go below $300 in checking account (just in case someone wrote out a check and forget to enter it into the register - back in the days before online banking)
Comment from : @timb6985

I monitor our checking to have $6,00000 at the beginning of each month With the exception of the last 4 months, our expenses paid from our account was a little over $5,00000 or less I’m a semi professional house spouse that’s retired from the USN, so I almost review the account daily I also review and track all 5 of the statements that are auto payments from our checking account The only withdrawal that I might not know is when my wife uses her Target card I love NFCU!
Comment from : @shawnpatton3795