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Topic: minimum balance in checking account  (Read 1525 times)

ljrjess69

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Re: minimum balance in checking account
« Reply #15 on: May 12, 2014, 05:22:39 am »
i always try to keep 50 in my account in case of emergancy or if my subtracting is wrong,,,,,,,

countrygirl12

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Re: minimum balance in checking account
« Reply #16 on: May 14, 2014, 08:03:43 am »
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.

vickysue

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Re: minimum balance in checking account
« Reply #17 on: May 14, 2014, 02:56:10 pm »
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.

hawkeye3210

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Re: minimum balance in checking account
« Reply #18 on: May 14, 2014, 03:22:42 pm »
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.

ricdsm

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Re: minimum balance in checking account
« Reply #19 on: May 14, 2014, 05:11:17 pm »
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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amelhuish

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Re: minimum balance in checking account
« Reply #20 on: May 14, 2014, 05:52:38 pm »
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.

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