(Closed) How much money do you keep in your chequing account?

posted 6 years ago in Money
  • poll: How much money do you keep in your chequing account?
    It goes to NSF frequently : (5 votes)
    4 %
    < $100 : (15 votes)
    11 %
    $100-$500 : (22 votes)
    17 %
    $500-$1000 : (23 votes)
    17 %
    $1000-$3000 : (33 votes)
    25 %
    $3000-$5000 : (16 votes)
    12 %
    $5000-$7000 : (8 votes)
    6 %
    $7000-$10000 : (4 votes)
    3 %
    $10000-$15000 : (6 votes)
    5 %
  • Post # 3
    Member
    9690 posts
    Buzzing Beekeeper
    • Wedding: September 2012

    You need to correct the poll option:  $500 – $7,000 as I think you meant:  $5,000 – $7,000.

    In our case, our accounts will be joint right after we come back from our honeymoon.  Fiance is taking over the finances and he currently keeps around $7,000 – $10,000 in checking, so I’m sure that will stay the same.  The remainder will be in savings, etc.

    Post # 5
    Member
    2214 posts
    Buzzing bee

    I only keep an extra $100-500 in my checking account that I use to pay bills and other expenses (food, gas, etc.).  I have it set up so money goes directly into my savings account everytime I get paid rather than have that money sitting in my checking account.  The accounts are linked, so money will transfer from my savings to my checking in the event it’s overdrawn, which hasn’t ever happened, but I like that I wouldn’t get any overdraft fees or anything if it did.  I have free checking, so I don’t need a minimum balance.

    ETA: Did I read the question wrong? Monthly I keep about $2500 in there to cover all my expenses, which is a few hundred dollars more than I need.

    Post # 7
    Member
    9690 posts
    Buzzing Beekeeper
    • Wedding: September 2012

    We’re with a credit union (we each work for neighboring agencies that have this option) and have free checking regardless of the balance.  We also have everything linked to our savings for overdraft protection, that’s such a great option.

    Post # 8
    Member
    9690 posts
    Buzzing Beekeeper
    • Wedding: September 2012

    @AB Bride:   I had to look at it a couple of times before I got it, lol.  😉

    Post # 10
    Member
    3461 posts
    Sugar bee
    • Wedding: May 2012

    I voted $15-20k (because it includes my emergency fund), but did not check if joint or not.  After we got married, we added each other so it’s legally a joint account, but he still uses his account and I use my account so practically for your poll, it is not used as a joint account.  He has another account with a similar sum.

    Post # 11
    Member
    3357 posts
    Sugar bee
    • Wedding: May 2012

    most of our money is in checking and periodically, I move some to savings.

    Post # 12
    Member
    3770 posts
    Honey bee
    • Wedding: August 2013 - Brookfield Zoo

    Two different answers.. I have a personal checking account for day-to-day that I used to be good about keeping stocked all the time but now it’s usually between $100-$1000.  FI and I also have a joint account for day-to-day that is couples stuff (like groceries, bills, etc.), and that is generally $1000-$2000.  We each have our own savings accounts as well, which I personally haven’t had to dip into much lately, hoping he hasn’t had to either LoL.

    Post # 13
    Member
    3471 posts
    Sugar bee
    • Wedding: July 2012 - The Gables Inn, Santa Rosa, CA

    We keep ~$500, I’m paid weekly, so each payday I move the amount required for bills to an escrow account (for online bill pay) and then whatever is left over goes straight to Savings.  Then the $500 is there for incidentals/emergencies and is replenished each week with the next payday. 

    Post # 14
    Member
    3943 posts
    Honey bee

    Not enough

    Post # 15
    Member
    2893 posts
    Sugar bee

    Before we got married I kept about 25K in checking. Now that we’re married we have a joint account and after buying a house, paying for a wedding, and aggressively paying off DH’s debt from his youth we’re at 20K and will be moving anything we save above 20 to savings. When I get comfortable seeing an even smaller amount we’ll start moving everything over 15 to savings or invest it. That amount includes our “emergency” buffer that is kept in the same account.

    Wasn’t so long ago that amount used to be $500 for me. 🙂 Took years of hardcore scrimping and saving to move away from that.

    Post # 16
    Member
    6124 posts
    Bee Keeper
    • Wedding: August 2012

    We are over $10k for the past year or so.  It was supposed to be for a Destination Wedding that we saved up for, but that was cancelled and we eloped.  Now, it’s just part of the emergency living expenses (the rest of the liquid savings is in IRA contributions which we can take out), or any big expenses (we need to get a laptop soon).

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