Comments on: Checking accounts and wiping your butt http://www.punchdebtintheface.com/2009/09/what-does-wiping-your-butt-have-in.html A fun personal finance blog Sat, 11 Feb 2012 04:21:35 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Erin http://www.punchdebtintheface.com/2009/09/what-does-wiping-your-butt-have-in.html#comment-1377 Erin Wed, 09 Sep 2009 13:43:19 +0000 http://www.punchdebtintheface.com/?p=172#comment-1377 Me and the hubby keep about $1500 at minimum in our checking account as a mini emergency fund. It used to be $200, but $1500 is around one month living expenses for us. We have another larger emergency fund (that we contribute a set amount per month to) in a money market account. Then at the end of the month anything else that we have left in the account over 1500 gets divied up into different categories in the Money Market. Me and the hubby keep about $1500 at minimum in our checking account as a mini emergency fund. It used to be $200, but $1500 is around one month living expenses for us. We have another larger emergency fund (that we contribute a set amount per month to) in a money market account. Then at the end of the month anything else that we have left in the account over 1500 gets divied up into different categories in the Money Market.

]]> By: Single Guy Money http://www.punchdebtintheface.com/2009/09/what-does-wiping-your-butt-have-in.html#comment-1374 Single Guy Money Tue, 08 Sep 2009 22:26:43 +0000 http://www.punchdebtintheface.com/?p=172#comment-1374 I keep about $40,000 in my checking account. Before you think I've lost my mind, I currently have my checking and savings account combined in a high-yield checking rewards checking account currently paying 4%. I keep about $40,000 in my checking account. Before you think I've lost my mind, I currently have my checking and savings account combined in a high-yield checking rewards checking account currently paying 4%.

]]> By: Dolly Iris http://www.punchdebtintheface.com/2009/09/what-does-wiping-your-butt-have-in.html#comment-1372 Dolly Iris Tue, 08 Sep 2009 17:51:43 +0000 http://www.punchdebtintheface.com/?p=172#comment-1372 With my old account if I kept a 1000 minimum then they would waive all fees. That was the best motivation for me. With my old account if I kept a 1000 minimum then they would waive all fees. That was the best motivation for me.

]]> By: Donnie http://www.punchdebtintheface.com/2009/09/what-does-wiping-your-butt-have-in.html#comment-1371 Donnie Tue, 08 Sep 2009 17:47:44 +0000 http://www.punchdebtintheface.com/?p=172#comment-1371 Right now, I don't really have a system. But what I am planning to do is this:<br /><br />Every time I receive a paycheck, sweep whatever was in the account before the paycheck into my Emergency Savings account. <br /><br />I don't really have to worry about bouncing checks due to ING's Overdraft Line of Credit system. You don't get hit with any fees, they just charge you interest for the days you happen to go below $0. Right now, I don't really have a system. But what I am planning to do is this:

Every time I receive a paycheck, sweep whatever was in the account before the paycheck into my Emergency Savings account.

I don't really have to worry about bouncing checks due to ING's Overdraft Line of Credit system. You don't get hit with any fees, they just charge you interest for the days you happen to go below $0.

]]> By: SS4BC http://www.punchdebtintheface.com/2009/09/what-does-wiping-your-butt-have-in.html#comment-1370 SS4BC Tue, 08 Sep 2009 17:07:25 +0000 http://www.punchdebtintheface.com/?p=172#comment-1370 Heh... I try to keep an amount over $0 in my account at all times. Most of the time it works out. I usually have about $100 reserve in a different account (not my E-fund) that I can pull from if it doesn't. <br /><br />Thus far, I've never in my entire 29-year long life had an "emergency" where I needed two thousands dollars RIGHT NOW. So I'm totally fine with it sitting in my savings and knowing that if I need to get it, it will be instantly transferred in a matter of seconds. Heh… I try to keep an amount over $0 in my account at all times. Most of the time it works out. I usually have about $100 reserve in a different account (not my E-fund) that I can pull from if it doesn't.

Thus far, I've never in my entire 29-year long life had an "emergency" where I needed two thousands dollars RIGHT NOW. So I'm totally fine with it sitting in my savings and knowing that if I need to get it, it will be instantly transferred in a matter of seconds.

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