How much do you keep in your checking?

InnerPrincess

Tue, May 14 2024, 2:49 pm

anywhere from 1,500-10,000 in checking, depending on when I last got around to moving it to savings.

Ideally, about 3k

amother

DarkGray

Tue, May 14 2024, 2:58 pm

After paying all the monthly bills I make sure there is at least $100 at all times . Otherwise I transfer from my savings with the click of a button.

amother

Impatiens

Tue, May 14 2024, 3:01 pm

amother Seablue wrote:

Any money in our checking at any given time is just there because we haven’t yet paid the mortgage or another bill. So it may look like we have $4k today, but it’s actually $0 bc we live month to month and generally go over.
For reference- 4 kids with an income of about $180k. Not even close to enough

Same except our income is about 160

amother

Freesia ↓

Tue, May 14 2024, 3:04 pm

paycheck to paycheck
money in money out
zero savings
zero investments
Sad

plus debt
ouch I know

lucky the rest of you

amother

↑ Canary ↓

Tue, May 14 2024, 3:32 pm

amother Kiwi wrote:

Ooc why so much in checking? Even a simple savings account would yield some interest, which checking doesn’t

I keep 3-5k in checking. Only enough to cover my bills

Our bills & expenses are way more than $5K a month bh.
And we don't use credit cards.

amother

↑ Canary ↓

Tue, May 14 2024, 3:34 pm

amother Feverfew wrote:

I’m guessing she makes so much income that she doesn’t need that interest.

How rude. This comment is really hurtful.

amother

Slategray

Tue, May 14 2024, 3:37 pm

Also around 3k. We wait for the paycheck pay off outstanding bills and transfer the remaining to savings (saving for a house)
We like to keep about 1500 for cushioning

amother

Ebony ↓

Tue, May 14 2024, 3:38 pm

amother Canary wrote:

How rude. This comment is really hurtful.

Why is it hurtful? It’s not standard to keep 20-30k in a checking account, most people would want to get 5% interest on such a large amount in a high yield savings account. So being that you’re not doing that, it’s a reasonable assumption that the 1k - 1.5k you could be making aren’t worth much to you.

amother

Scarlet ↓

Tue, May 14 2024, 3:45 pm

amother Whitewash wrote:

Abt 40k give or take.
That's the amount we spend a month. All our paycheck goes into checking, I hv a budget spreadsheet & whatever we didn't spend each month gets transferred out to savings, so it's usually around there that stays.

What do u spend 40k on a month!!!!!!???? Wow bh

amother

↑ Scarlet ↓

Tue, May 14 2024, 3:46 pm

1200 in checking usually
16k in savings
80k investments married 4 yrs
We make about 90k a year combined 1 kid and it seems like we get lost in it sometimes

amother

↑ Canary ↓

Tue, May 14 2024, 4:05 pm

amother Ebony wrote:

There's no standard. Everyone does what works for them & their situation.

amother

↑ Canary ↓

Tue, May 14 2024, 4:06 pm

amother Scarlet wrote:

What do u spend 40k on a month!!!!!!???? Wow bh

Some people pay many thousands in tuition alone. Add to that rent/mortgage, bills, insurance, groceries, car payments.... it adds up. Especially if one has a large family kh.

amother

↑ Feverfew

Tue, May 14 2024, 4:08 pm

amother Canary wrote:

How rude. This comment is really hurtful.

I didn’t mean to be hurtful! I apologize.

amother

Leaf

Tue, May 14 2024, 4:16 pm

amother Scarlet wrote:

What do u spend 40k on a month!!!!!!???? Wow bh

are you super rich? what do you guys do? how many kids?

amother

↑ Ebony

Tue, May 14 2024, 4:18 pm

amother Scarlet wrote:

1200 in checking usually
16k in savings
80k investments married 4 yrs
We make about 90k a year combined 1 kid and it seems like we get lost in it sometimes

How do you have so much in investments if you’re only earning 90k a year?

amother

↑ Whitewash ↓

Tue, May 14 2024, 5:03 pm

amother Scarlet wrote:

What do u spend 40k on a month!!!!!!???? Wow bh

We really spend closer to 35.
Maaser/tzedaka- 10-11k
Tuition- 3k
Food- 4.5k
Mortg- 7k
Cars- 1k (Inc insurance)
Various utilities/life ins- 1k
Learning rebbe- 3.5k
Cleaning help- 1.5k
Clothes- 800k
Misc like yt expenses, landscaping, camp, wedding/bm gifts, gym etc- 4k

Some of this is set aside per month for future months like camp, yt, clothes, etc

amother

↑ Whitewash

Tue, May 14 2024, 5:05 pm

amother Leaf wrote:

are you super rich? what do you guys do? how many kids?

We are bh doing well. Yearly pretax a bit under a mill. Post tax closer to 600k.

Healthcare. I'm a recent sahm. We didn't always make this.

amother

Ultramarine

Tue, May 14 2024, 5:32 pm

I like to keep 1000 but im now at $200 and wont be getting paid for another 5 weeks. I am getting nervous.

amother

↑ Scarlet

Tue, May 14 2024, 5:38 pm

amother Whitewash wrote:

We are bh doing well. Yearly pretax a bit under a mill. Post tax closer to 600k.

Healthcare. I'm a recent sahm. We didn't always make this.

Wow!!!! Good for u!!! What’s healthcare? I want DH in on it!!!!