How much in current account

bd10

Given that my bank barely pays any interest on any current account baances, I keep across all my accounts a balance of less than £1k. All remains invested. Should I an unexpected expense hit me, I'd expense it with my credit card which would leave me with a few weeks to sell investments to clear the credit card balance.

Ultrasonic

Generally in the £1k-£2.5k range over a month (excluding when just paid and I transfer money out to a savings account pretty much immediately). Whilst I could earn more interest by maintaining a lower balance, the regular micromanaging to do so whilst being certain of not accidentally going overdrawn is something that in practice I can't be bothered with.

P1Fanatic

MX5huggy said:

Only DD’s Standing orders and paying off the credit cards (used for all daily spends) come out of the current account over the month. On pay day I know what I need for the up coming month so I move the remainder to savings / investments with the aim of having say about £100 left on the next pay day. 

Pretty much the same as me for my personal account. For our joint account I run around £1000 balance in case of emergencies where a credit card is not appropriate / possible.

steveksullivan

Wheres_My_Cashback said:

Multiple Current a/c with Zero, just move enough into the daily spending one each day to cover what I need for spending or when DDs have been taken.

Probably excessive with interest rates where they are now, but its a habit I got into when they were much higher to maximise interest - always ZERO in all my current accounts (about 15 at the moment, was more.....) except any with high interest rates on smaller amounts such as Virgin.  Circa £5K in the highest paying easy access savings account and transfer from it every day to cover spending and/or any direct debits that have gone out, or to it if money has come into the current account  - like Wheres_My_Cashback above ....... but I appreciate I have time on my hands and many others dont have that luxury. Still, it's less than five minutes a day to check the account and do the transfer .....

Swipe

Between £3k and 5K

Bravepants

My partner and I have a joint account into which we pay our contributions to monthly outgoings at the start of each month. This amount is fixed for the year and I review each calendar new year. We each also have our own current account for personal spends.

I have just started keeping a float of £1k in my own current account, which is mostly for my own spending money and personal costs. If I end up with over £1000 in there at the start of a month, the excess goes into savings.

JGB1955

I run my personal current account down to £0 at the end of a 4 week cycle (the day before my State Pension is paid).

Our joint (Bills) account usually has £1,000 left in it at the end of the month.

We have several instant access savings accounts if a top-up is necessary.

Jami74

Main current account usually has less than £20, except at the beginning of the week that the direct debits/standing orders come out. My savings and investments are miniscule compared to most here so I really do need to work every £.

Joint account has a float of about one month's expenses, mostly because other half wouldn't know what to do in an emergency so it gives me peace of mind that at least the following months important bills were covered.

Brie

our current account is our mortgage so it's never been in credit for about 20 years.  soon to change in the next couple of months and I've been thinking I'll keep a least £1k in it as that's where the bills are paid from.  I might look at changing our whole set up though.

Zola.

A few months expenses, everything else is in the markets..