How much money do you keep in your chequing account?

[joe1487]

How much money do you retain at a given time? Do you have overdraft protection? Do you micromanage your balance (e.g. transfer excess funds to your savings account, transfer it out the day before an automatic payment goes through, etc.)?

[Jucius Maximus]

1. I try to keep a nominal balance of $1250
2. $700 overdraft. Never used it.
3. Yes, I micromanage the balance.

[Insane_Pikachu]

200$

[dux]

100, with 1000 overdraft protection.

[nuberific]

$0 without overdraft protection and money micro. Should probably get overdraft protection of use a LOC though. Haven't gotten around to it.. yet.

[Octavius]

200 bucks.

[pitz]

-$6000 . (yes, that's a negative number).

Don't have a 'savings' account.

[UrbanPoet]

I keep $200.
I basically leave myself $200 to spend each week. The rest of my money goes to my savings account or investments.

-$6000 . (yes, that's a negative number).

Don't have a 'savings' account.

wow thats freaky. why such an overdrafT?
Your always the one blabbing in personal finance all the time too :O

[joe1487]

$0 without overdraft protection and money micro. Should probably get overdraft protection of use a LOC though. Haven't gotten around to it.. yet.

Wow, you must be really on the ball with your transfers. I'm willing to sacrifice a little interest for convenience. How do you make Interac purchases, if you have to?

-$6000 . (yes, that's a negative number).

Don't have a 'savings' account.

Wow, 6k of non-deductible overdraft. You're not paying overdraft rates (18%+), are you?

[pitz]

Wow, 6k of non-deductible overdraft. You're not paying overdraft rates (18%+), are you?

Its a LOC, its partially deductible (since most was used for investment), and the rate is a little over Prime.

If anything, given the way the markets have been in the past month, I probably should have made more aggressive use of unsecured credit to fund the portfolio, but that's just hindsight, lol...

[Cheap Cat]

Wow, you must be really on the ball with your transfers. I'm willing to sacrifice a little interest for convenience. How do you make Interac purchases, if you have to?

For regular pre-authorized withdrawals, just set up regular transfers from your savings account. It's no inconvenience at all. As for Interac purchases, I never make them. I use my CC for everything and then make one transfer to make the payment when the bill is due. By using the right CC, you collect points as well.

[red120]

$0

I send my money over from my margin to pay bills, etc.

[nuberific]

Wow, you must be really on the ball with your transfers. I'm willing to sacrifice a little interest for convenience. How do you make Interac purchases, if you have to?

Well I pay pretty much everything with credit card. The only interac payments I need to make I know beforehand (TTC Metropasses from school or local computer stores). I carry a bit of cash on me too, usually no more than $40. Where do you shop that requires you to use interac so often?

[hhh]

~$20, no overdraft...no joke.

[dasaylay]

~$20, no overdraft...no joke.

Got you beat. $16.xx, no overdraft. But the rest is all in savings accounts...