Comments on: How a Safety Net in our Checking Account Saved Us Money http://www.centsablemomma.com/2009/09/checking-account-safety-net.html Sun, 12 Feb 2012 12:05:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Corrie @ "Cents"able Momma http://www.centsablemomma.com/2009/09/checking-account-safety-net.html/comment-page-1#comment-2464 Corrie @ "Cents"able Momma Tue, 08 Sep 2009 17:41:59 +0000 http://www.centsablemomma.com/?p=1154#comment-2464 Wow...that's a great rate - 4.0%! My money market account doesn't earn even close to that right now. I would definitely use your system, if I could. Thanks for sharing. Wow…that’s a great rate – 4.0%! My money market account doesn’t earn even close to that right now. I would definitely use your system, if I could. Thanks for sharing.

]]> By: Ashley http://www.centsablemomma.com/2009/09/checking-account-safety-net.html/comment-page-1#comment-2461 Ashley Tue, 08 Sep 2009 17:05:07 +0000 http://www.centsablemomma.com/?p=1154#comment-2461 We have a checking account that earns 4.0% APR, so we leave all our available funds in it. However, I only show a balance of our "spendable" money in my register. I use Quicken to keep a record of what funds we have available in which "accounts": Long-Term Savings, House Fund, Vacation Fund, etc. At the end of each month, I "transfer" the funds to each "account" from our "main account". It's nice to know we have the "extra funds" there if something happens (like your situation), but we don't "see" the funds there, so we're less likely to spend them. We have a checking account that earns 4.0% APR, so we leave all our available funds in it. However, I only show a balance of our “spendable” money in my register. I use Quicken to keep a record of what funds we have available in which “accounts”: Long-Term Savings, House Fund, Vacation Fund, etc. At the end of each month, I “transfer” the funds to each “account” from our “main account”. It’s nice to know we have the “extra funds” there if something happens (like your situation), but we don’t “see” the funds there, so we’re less likely to spend them.

]]> By: Buffie http://www.centsablemomma.com/2009/09/checking-account-safety-net.html/comment-page-1#comment-2401 Buffie Fri, 04 Sep 2009 13:57:59 +0000 http://www.centsablemomma.com/?p=1154#comment-2401 We keep a buffer in our account too. Only our credit union allows us to keep it in a savings account and they will transfer the money for free to cover any "overdrafts." This way I get a slightly better interest rate since it's in savings. The savings account linked to our checking account is also not our true savings account where we keep our emergency money and other budgeted savings. This came in handy recently when a $500 check that was supposed to be returned to us was cashed. Nothing bounced and the money was there so it wasn't a big stresser for me. We just had to wait for them to send us a refund check. We keep a buffer in our account too. Only our credit union allows us to keep it in a savings account and they will transfer the money for free to cover any “overdrafts.” This way I get a slightly better interest rate since it’s in savings. The savings account linked to our checking account is also not our true savings account where we keep our emergency money and other budgeted savings.

This came in handy recently when a $500 check that was supposed to be returned to us was cashed. Nothing bounced and the money was there so it wasn’t a big stresser for me. We just had to wait for them to send us a refund check.

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