Compensation

How much do you guys usually have in checking account ?

New / Eng
CnfusdSprm

NewEng

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Starbucks
CnfusdSprmmore
Dec 1

Title says it all

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  • Facebook pipirupiru
    $420.69
    Dec 21
  • Google / Mktg
    JEKR00

    GoogleMktg

    BIO
    Marketing Strategy & Operations
    JEKR00more
    10k max at any given time in checking + 25k in savings. Rest in investments.
    Dec 25
    • RackWare Dreamlight
      What do you invest in?
      Dec 2
    • Facebook / Eng:?
      What’s the purpose of the savings account? Emergency fund?
      Dec 2
    • Google / Mktg
      JEKR00

      GoogleMktg

      BIO
      Marketing Strategy & Operations
      JEKR00more
      Usual stuff. Stocks, index funds. But yes 25k for emergency cash as selling stocks is not that immediate.
      Dec 2
    • Facebook QgLd56
      Emergency savings, travel savings, house savings (down payment, closing costs, etc.), wedding savings. Retirement doesn’t go in savings accounts - they are in investment accounts. I basically have a savings account and savings goal for anything with a substantial cost, and auto deposit into them from each paycheck. That way you know you are making progress toward those goals, and what leftover discretionary income you can comfortably / confidently spend.
      Dec 2
    • Google / Mktg
      JEKR00

      GoogleMktg

      BIO
      Marketing Strategy & Operations
      JEKR00more
      I like that approach esp. for travel and used to have it that way, until banks charging for accounts.
      Dec 2
  • Groupon STCO30
    Almost nothing. Direct deposit goes in, bills pay out, then transfer rest to savings.
    Dec 10
  • Google / MgmtMyBreezy
    See the thing is... I have a checking AND a savings account and it takes 3 days to transfer between the two
    Dec 23
    • Uber buzzbazz
      You need to change financial institutions
      Dec 2
    • Google / MgmtMyBreezy
      Lol you need to watch Kevin Hart standup 😎
      Dec 2
    • Salesforce skfjtiqlxj
      That’s the ACH system for you. They make 3 more days of interest off of you this way
      Dec 2
  • Google / EngPeøn
    I keep 100k in it just waiting for the next damn recession to really hit so I can pick up index funds real cheap. Been waiting.... for years
    Dec 22
    • Google / EngBluths
      Time in the market is better than timing the market.
      Dec 2
    • Google / EngPeøn
      I know but I’m too stubborn
      Dec 2
  • New / EngCoolHands
    20k checking, 20k saving, rest investments
    Dec 25
    • IBM gösser
      What's the point of keeping so much in checking when you can keep it in savings and get interest, and transfer in a day?
      Dec 2
    • Yahoo xCWI25
      I keep $20k in my checking account too. The reason is that I have several major expenses on auto-pay. If I had to remember to transfer money into my checking account the day before, that would defeat the whole purpose of auto-pay. I’m willing to lose out on a bit of interest in exchange for reducing my mental load.
      Dec 2
    • Salesforce skfjtiqlxj
      Yea but 20k?? That’s quite the buffer, can make like $35 a month with a Marcus savings with that buffer. At most I’m like +/- $1500 a month
      Dec 2
    • Yahoo xCWI25
      @skftjiqlxj Are you single? I’m married (dual income, joint account) with kids. Our expenses vary by much more than $1500 each month. Our big auto-pay bills are all clustered near the beginning of the month. And I don’t want to have to keep close track of what my spouse spends.

      $35 a month is nothing. I really don’t want to have to think about how much is in my checking account more than once every month or two.
      7d
    • Salesforce skfjtiqlxj
      Well now that I think about it....my total checking balances are around 4-8k through the month, I just didn’t think it through cuz my fixed expense checking I never have to look at. I guess if you take mine and double it, potentially ends up at $16k which is in range with your 20k for dual income and kids.
      7d
  • Intel napalm
    What are these "investments"
    Dec 21
  • Apple yEdW78
    I can’t imagine putting “rest” into investments given the markets are so volatile. If all of you are referring to real estate (mortgage payments) I understand that but etfs too are being hammered. Btw I have a 6 digit portfolio outside of my 401k and iras, I don’t plan to increase my capital in portfolio until these volatility levels decline
    Dec 24
    • Amazon / EngEtekcity
      I'm in the same boat
      Dec 2
    • Airbnb avqx65
      Buy bonds then
      Dec 2
    • Google / Mktg
      JEKR00

      GoogleMktg

      BIO
      Marketing Strategy & Operations
      JEKR00more
      Agree that the market is volatile now. But just look at it the last 3 years. You would have grown your $$ significantly over that time in stocks and index funds. It's a long game.
      Dec 2
    • Salesforce skfjtiqlxj
      Time in the market beats timing the market
      Dec 2
  • Amazon BB!
    No more than I care to lose if someone were to find my debit card and empty it out
    Dec 20
  • SAP / EngWeasel
    1k checking - 5k savings - every other penny in investments.
    Dec 23
    • Google / Engyf4b5u
      Where do you live and how do you pay housing costs?
      Dec 2
    • Amazon Cmcbcxchvc
      .
      Dec 2
    • SAP / EngWeasel
      Got lucky. Home is paid off. Just need to keep paying taxes on it each year.
      Dec 2
  • Google / Mktg
    JEKR00

    GoogleMktg

    BIO
    Marketing Strategy & Operations
    JEKR00more
    What is long term investment?
    Dec 21
    • Amazon Cmcbcxchvc
      Index funds at Vanguard. Mostly Stocks and bonds. If you look at the balance in some of their life strategy funds it can give you an idea of how to split out your money.
      Dec 2
  • Amazon Cmcbcxchvc
    1k checking. $500 in the linked savings account.

    40K emergency fund.

    15K waiting to be invested.

    And the rest in long term investments.
    Dec 22
    • New / Eng
      CnfusdSprm

      NewEng

      PRE
      Starbucks
      CnfusdSprmmore
      OP
      40K in emergency? Wtf
      Dec 2
    • Salesforce skfjtiqlxj
      Seems right. 3-6 months of expenses
      Dec 2
  • SAP kbron
    Everybody here are suposedly investors but none lost money with stock market drop. Funny, all are winners!!
    7d1
    • Salesforce skfjtiqlxj
      Nobody said they didn’t lose money
      7d
  • Amazon 5’6Indian
    A bit “short” on funds at the moment
    Dec 21
  • Salesforce skfjtiqlxj
    I ran my average spending on mint trends for the last year and direct deposit this monthly into checking. I just check at the beginning of the month since mint also shows bills due just in case to see if it covers during bill due. If I make a big purchase I schedule a transfer from savings to checking right away for a few days before credit card is due, set it and forget it. And I try to keep a $1500 buffer. Hovers around $4-8k
    Dec 20
  • Generally by FDIC standards, banks typically insure up to $250k max.
    Dec 20
  • Facebook Whateverrs
    I try to keep around 10k just so credit card payments and rent checks don't bounce. When the balance gets high, say, 20-30k, I buy more stocks.
    Dec 20
  • Facebook public2
    Wow these are so low.
    Dec 20
  • Google / Engyf4b5u
    We have 30k savings, 10k checking, rest investments.
    Dec 20
  • Vertivco / R&D
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    VertivcoR&D

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    Warp Zone!more
    0 in both.
    Dec 10

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