FC Community
Discussion Boards => Off-Topic => Topic started by: Gerianne on May 08, 2014, 07:08:29 am
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do you try to maintain a certain balance in your checking account?
I don't have an emergency fund in its own account.
So, I guess I just "decided" on a number for my "cushion of comfort".
If I go a bit below it, payday comes soon. I would never want to go to a zero balance.
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I have 2 bank accounts; my main checking one must keep the minimum balance so I don't pay fees on it so I maintain that one but shift most of my money to my savings account.
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No, I always try to keep some money in my accounts, but I didn't set myself a minimum. Once or twice when I was out of a job, I got down to a few cents, but usually I don't have to worry about overdrawing my accounts.
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I haven't gone below zero in years... seems my last relationship was the reason for that. The checking account I have now doesn't require a min. balance. But if I were to over draw there would be fines. Between so many different revenues of cash coming in there is no reason for my checking account to ever get that close - I now can move money around.
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I like a little cushion in my checking account...around $20,000. Hahahahahaha. I wish.
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Minimum balance???? Really, who can afford that these days!!!!!!
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Yeah, I have a minimum amount that I like to keep in there.
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I actually think it's a policy of my bank to keep at least $200 in there. So I don't have a choice XD
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I don't have a minimum balance amount. I just try to keep some in the account for emergencies. I don't like to get too low.
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I always try to keep at least $100 in my checking account, once it goes below that I halt all spending until payday! I usually do pretty good, but every now and then we dip into it.
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i don't have to keep a minimum balance in my checking account,,, but i always have at least $200 in there at all times. I call it emergency money :)
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I never get to a non-sufficient funds status I keep close watch on my balance but right now there is only 26 cents in my account. I pay my bills at the beginning of the month and I try and hope to have enough left for food or anything else that can't be covered by the little bit I am able to earn online but beyond that I can't worry about it because I don't have the level of income to worry about having a cushion.
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I usually keep way more than minimum in account just for a raining day. Plus you hate to get a overdraft fee.
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I have an interest bearing checking account so I always have to maintain a minimum balance. The rate is real low, but every little bit helps.
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I have two accounts plus a savings, but my savings account I am trying not to touch at all since I am in the process of buying a home and I want to put more down on a home. But with my checking accounts I have to keep a minimum balance so I won't have maintenance fees and such, even though its 7.99 a month that's 7.99 I can save if I keep a minimum amount lol
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i always try to keep 50 in my account in case of emergancy or if my subtracting is wrong,,,,,,,
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do you try to maintain a certain balance in your checking account?
I don't have an emergency fund in its own account.
So, I guess I just "decided" on a number for my "cushion of comfort".
If I go a bit below it, payday comes soon. I would never want to go to a zero balance.
If you hit zero they will usually close your account. If you go into the negative then you fix it and put enough to come back into the positive. I know a lot of people where I live draw government checks. They are standing at the door of the bank 2 hours before it opens. Beyond stupid but anyway. I got upset listening to the news yesterday, I think it was the Today Show, where they are saying you need to have a 6 month income stashed away in case of an emergency. Most people are living pay check to paycheck and are just trying to survive. That is not possible. The people who give the advice are millionaires so saving money for them is not hard. I get tired of people with a ton of money trying to tell me how to live when they have never been in my situation.
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I have a saving account tha I never touch, and I keep enough in checkbook to cover 3 months bills. So far have never had to touch it.
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do you try to maintain a certain balance in your checking account?
I don't have an emergency fund in its own account.
So, I guess I just "decided" on a number for my "cushion of comfort".
If I go a bit below it, payday comes soon. I would never want to go to a zero balance.
I got upset listening to the news yesterday, I think it was the Today Show, where they are saying you need to have a 6 month income stashed away in case of an emergency. Most people are living pay check to paycheck and are just trying to survive. That is not possible. The people who give the advice are millionaires so saving money for them is not hard. I get tired of people with a ton of money trying to tell me how to live when they have never been in my situation.
It's good advice and it's not just millionaires giving it. It may take some longer to save up, but it should be a goal.
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I keep at least 4 months worth of salary in my checking/savings. You never know when an emergency will hit.
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It seems lately $5 is the lowest I get to, but I am trying to get it to where it doesn't get that low and I leave money in the savings.