How much in current account

ZeroSum

Bouncerus said:

I only keep a max of £60-120 in my current account, and transfer from my savings as needed.

I know of a very close friend who kept a few months of salary in his current account. He was a victim of fraud, and lost around £13K because it was sat in there and the pin was known. 

That's another thing, whenever you watch things about scammers. Everytime the victim has thousands in their one & only current account.

RG2015

I always check how much interest I am losing.

If my balance is £500 and it is not required for 7 days my calculation is as follows.

£500 x 1.55% x 7 / 365 = £0.15

I then make a decision whether or not to move it for 7 days.

JadedAngel88

Nothing.

Once my bills and rent etc are paid from my bills account it is empty. 

I have 4 accounts, one is for bills, one has the grocery money, one I use for transportation costs and the only land based account if I need it to pay money in to the other accounts.

Once all money is sorted into wherever its going the remainder is withdrawn and separated out into cash envelopes. 

If I kept any in my account I'd just waste it on carp I don't want or need. 

Works for me.

RateTartExtraordinaire

Interesting thread.
Main account pays some interest banded up to £5000 credit. I currently have about £4-5K which was from the closure of my IFISA last year which I am drip feeding into S&S ISA.
The other account is my switcher bank account with 2 direct debits. I set up a standing order to transfer money in and money out each month so I has the minimum needed each month.

maisie_cat

Currently £55, I keep money in a savings account and transfer weekly. I keep it low because FD text me when I go into arranged overdraft and it prompts me to look at what's been going through the account.

Spoonie_Turtle

Mid-low hundreds, though I like it to not go below £100 unless it's the day before some money is due (benefits). 

I only really have 'rent' (housekeeping), my own expenses, and the energy to think about though, as I live with my parents.  I transfer lump sums into easy-access savings periodically - my benefits are on different cycles (2wk, 4wk, monthly) whereas regular expenses are monthly, so just whenever it gets above £1000 I transfer some out.

Marmaduke123

I just leave my state pension in my current account, other pension payments are immediately transferred to savings, and some transfered back as and when needed. So the balance will gradually reduce over the four week cycle as I pay for food and household goods, mobile phone, cat insurance, and other smallish (sub £50) purchases and other expenditure. Household bills, credit cards etc are paid by transfers back from savings on the day they are needed.

kimwp

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. 

Same, except it's £200. I've just changed my council tax to be 12 months instead of 10 so exactly the same payments go out every month, as many as possible on the same day, a few days after payday. 

talexuser

A minimum of 5k always to get £60 a year in cash (Halifax) which worked out better than Marcus until just now. Then auto transfers to Santander lite to auto pay the bills, where the cashback pays for the fee with some £ left over.

ZeroSum

talexuser said:

A minimum of 5k always to get £60 a year in cash (Halifax) which worked out better than Marcus until just now. Then auto transfers to Santander lite to auto pay the bills, where the cashback pays for the fee with some £ left over.

Errrrr
Many of us keep zero in that account & still get the £60 + the £75 for keeping same £5k in chase