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Forum
-> Household Management
-> Finances
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amother
OP
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 Tue, May 14 2024, 6:15 pm
| amother Ebony wrote: | | How do you have so much in investments if you’re only earning 90k a year? |
I’d also like to know!
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amother
Yolk
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Tue, May 14 2024, 6:38 pm
between $8-12,000 in my checking account
(I'd be nervous to have less... we have $1900 rent that my landlord can deposit at any time (they often do it a month late), a tuition check that goes in, etc... I don't want to have to check the balance each week to make sure I have enough there.)
we probably make about that much each month and spend that much a month. but I get paychecks from several jobs, deposited at different times of the month, so never get to zero B"H.
(have about $35,000 or so in savings)
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amother
Kiwi
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Tue, May 14 2024, 6:43 pm
| amother Canary wrote: | Our bills & expenses are way more than $5K a month bh.
And we don't use credit cards. |
What does using credit card have to do with how much you keep in checking? I do use credit cards but pay them in full every month . My credit card spending is irrelevant to how much I keep in checking
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amother
Watermelon
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Tue, May 14 2024, 7:44 pm
I keep a few hundred as a cushion in checking. The balance will be 5-6000 sometimes but that’s because the credit
Card payment or mortgage is being pulled in the next day or so.
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realtalk
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Wed, May 15 2024, 5:27 pm
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Ideally I keep a minimum of $1k as a minimum. We're trying to save for a house and also transitioning to using only debit (just got out of credit card debt bH!) so it fluctuates a lot throughout the month but we really stop spending when it's under $1k
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amother
Midnight
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Wed, May 15 2024, 8:25 pm
| amother Ebony wrote: | | How do you have so much in investments if you’re only earning 90k a year? |
Not the person who wrote the comment that you are referring to, but it is definitely possible. We have 50k in savings and 10k in investments but have only been making a combined 35k per year in the past 3 years that we have been married.
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amother
Hawthorn
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Wed, May 15 2024, 8:28 pm
| amother Midnight wrote: | | Not the person who wrote the comment that you are referring to, but it is definitely possible. We have 50k in savings and 10k in investments but have only been making a combined 35k per year in the past 3 years that we have been married. | do share!
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amother
Canary
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Wed, May 15 2024, 8:50 pm
| amother Kiwi wrote: | | What does using credit card have to do with how much you keep in checking? I do use credit cards but pay them in full every month . My credit card spending is irrelevant to how much I keep in checking |
.
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amother
OP
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Thu, May 16 2024, 4:19 am
| amother Midnight wrote: | | Not the person who wrote the comment that you are referring to, but it is definitely possible. We have 50k in savings and 10k in investments but have only been making a combined 35k per year in the past 3 years that we have been married. |
That’s only possible if you’re getting govt programs which with that income you probably are… much harder if you’re not. But that’s great you were able to save so much so fast!
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