What’s a good baseline amount to keep in a checking account? I generally keep mine pretty low <1000 after paying CCs then dump the rest in savings. As I’m building a rainy day fund and then I will start contributing my brokerage account.

For reference <1 year experience at $4500/month (after taxes and 401k contribution)

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As long as you have enough cash in your checking go pay bills when due, to send venmos, enough to not have any fees on your checking account (probably fine with direct deposit) doesn’t matter too much. I think around 1k is plenty if you’re single (no family)

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In todays world it’s pretty easy to pay buy credit or bring cash over quickly if you need to via an app.

I keep 3 grand but already done all the rainy day funds etc and have a new worth north of $2m so like having a little extra.

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Also no debt obligations and rent is 1500

$1500-2000

This is my goal, but psychologically for whatever reason I tend to spend more carelessly when I see a higher balance in my checking vs putting that extra in my savings

Also does anyone have a recommendation for how much do put in a rainy day fund? I’ve heard 3 months rent and expenses?

I like having a 1 year emergency fund. I know it's more than the standard 3 to 6 months people recommend but I felt so much more secure and safe during the pandemic with that cushion. With a possible recession around the corner I would recommend having a 1 year emergency but it is up to you.

We do a zero dollar based budget and try to start and end the month with as little as possible that will also cover immediate expenses for the month We start and end each month with $2,500. This is enough to cover all automatic payments that come at the beginning of the month (mortgage, utilities, ect.) And allows for a little buffer so it typically won't drop below $500 between paychecks.

Emergency fund will depend on your situation and should be kept in a separate account. Single income, large difference in joint incomes, couple working in same industry or company, or just want to be more cautious, 6 months. Dual income, 3 months is fine.

Emergency fund is for essential expenses (mortgage, rent, utilities, groceries, ect.) Don't include discretionary spending (dining out, entertainment, ect.) Think of it as what would you need to survive if you lost your job.

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