Comments on: Do you keep a ‘cushion’ in checking?

By: Christian Finance

Christian Finance — Wed, 20 Jun 2007 03:24:59 +0000

I never keep any money in my checking account unless I have a bill due. In fact, my checking account regularly has a zero balance. If I have an “emergency” and need to buy something, I just put it on a credit card since I know I have the cash to pay the bill. And I keep about $20 cash in my wallet for a “cash emergency” like having to pay at a parking structure that doesn’t take credit! That actually happened to me and I didn’t have any cash on me, so I had to walk to the closest ATM which was like a half mile away.

By: Jaime

Jaime — Mon, 18 Jun 2007 16:02:30 +0000

I usually try to keep about $100 or so as a cushion just in case I forget something. Though I probably should keep more in it because I have an ING electric orange checking account and earn interest on it! I think I’ve only made about $8 since April but that is 8 bucks I wouldn’t have otherwise!

By: broknowrchlatr

broknowrchlatr — Mon, 18 Jun 2007 14:03:36 +0000

I don’t keep much of one. Typicallu about $300 – $350

By: Clifford

Clifford — Mon, 18 Jun 2007 13:55:12 +0000

My approach is identical. Since becoming more savvy with my finances, I find I have the discipline to ensure I never bounce checks and I can keep a bulk of my money tied up in a money market account. Even with the two day delay in getting the funds, I can still access it. And if I am really really in need of emergency funds, I’ve got a credit card to cover me.