Question of the Day Marathon - Day 17
I was inspired to ask this question by Tricia, but I’m my own victim of this. And I don’t have a husband to blame it on! (Exaggerating for comedic effect here, no offense meant to Tricia’s husband.)
So the question is:
How much of a balance do you leave on your checking account/s?
I have two checking accounts. I allow one to draw down to $50 because I rarely purchase transactions more than that off this account. It’s my discretionary spending account and it’s for lunches and gas mostly. The other account has my fixed expenses and the checks I draw are much larger, so I leave about $150. Anything over gets swept to ING.
Are you a sweeper? Non-sweeper?
ncnblog wrote:
Yay! I get to be first!!!
(I left my comment on your other comments button… did you realize that you have two places to leave comments?)
We have two checking account, both free from Wachovia. My wife has one checkbook, I have the other. We keep roughly 300 dollars in her account, and roughly 800 dollars in my account, during the month. I “sweep” all of my money into my ING direct account at the end of the month, drawing both accounts down to 200 dollars.
Posted on 23-Aug-06 at 8:40 am | Permalink
Frugal Homemaker wrote:
My husband gets nervous if our checking account goes below 1000 dollars. When I was single, I kept at least 500 dollars in my checking.
Posted on 23-Aug-06 at 8:45 am | Permalink
J.D. wrote:
I’m confused! You have two commenting systems?
I have one checking account. It used to have $0 or less in it. I spent everything I earned. I still spend too much, but I’m getting much better, and now I run balances of a few thousand dollars.
Most of the money in checking is designated for short-term expenses.
Posted on 23-Aug-06 at 11:20 am | Permalink
Foobarista wrote:
We have a checking account and a savings account, and will usually have, at most, the equivalent of one paycheck. More typically, it has about $500 or so in it after the mortgage and other bills have direct deposited, and I’ve moved money to savings.
Posted on 23-Aug-06 at 1:01 pm | Permalink
freedumb wrote:
As little as possible…My checkings account sort of is the Grand Central to my financial system though, so I the variance is pretty big…somedays a few hundred….some a couple k…
Posted on 23-Aug-06 at 1:31 pm | Permalink
Ms. MiniDucky wrote:
Hm, my check writing checking account has some 20 bucks cushion in it and some rent money in increments of 200 depending on what part of the month it is. I only use that for writing rent checks and for “funneling” my money into the Citi accounts.
The Citi checking account tends to sit around with $3 in it, or less.
Posted on 23-Aug-06 at 3:25 pm | Permalink
Miserly Bastard wrote:
I keep $10,000 in the checking account, and sweep any excess to savings at the end of the month. This allows me to meet our substantial working capital needs, plus (depending on the size of the monthly sweep) I get monthly feedback into how well we are saving from salary.
Posted on 23-Aug-06 at 4:00 pm | Permalink
mbhunter wrote:
A few thousand.
Posted on 04-Sep-06 at 2:08 am | Permalink