Money Matters
ta78
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Checking Acct Question
How much do you normally keep in checking? We put a set amount in savings, but we have quite a bit leftover every month that I'm assuming we should be moving over to savings also. Do you keep a certain amt in your checking account? Should we be budgeting to zero?
Re: Checking Acct Question
I used to keep $500 in my checking as a cushion, but I have decided more recently that I was just using that as excuse not to keep track of my money. Now, we pay all of our bills on the first of the month, and I save all but $600 of what's leftover. I keep $150 out of that $600 in checking for our expenses for the week. Then I give us another $150 each week throughout the month (we have a separate savings account for our "weekly money" that I pull this from, but of course we could have all of our savings lumped together and just pull from there each week).
"You know you're in love when you don't want to fall asleep because reality is finally better than your dreams." - Dr. SeussAt the end of every month we return our checking account to the same amount. This means our savings account is normally more than we should have because we may not have spent all our gas money for instance- and that extra will go into savings. Every couple months then we look at our savings and we decide what to do with the extra- up till this point it had been mortgage, sometimes extra for retirement or an upcoming vacation.
For us it makes it easier to keep track of how much we are actually spending/ saving when we keep our checking account at the same starting balance each month.
We keep a baseline of $1000 in checking and $1000 in a saving account at the same bank. Everything else gets transferred out to online banks with a higher interest rate.