but I stress about money so much! How much do you guys usually have in your account at any given time?
2007-01-11 20:41:23 · 14 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
*** my chequing acct i keep low...maybe $60...my savings acct where I actually earn a lil interest...$60,000
2007-01-11 20:49:27 · answer #1 · answered by meme 5 · 0⤊ 0⤋
If you'd asked me a year ago (back when capital gains were my thing), I'd have said about seven grand. Nowadays, I have very little in my accounts, because I've discovered cashflow.
My first rental property pays all of its expenses, and gives me $100 a month that I could spend on taffy if I felt like it.
I have the minimum amount needed to keep my account open, invested long-term into some Real Estate Investment Trusts. They've taken a beating lately (yes, the froth has fizzled), but they're still good companies and they're still paying me a little dividend.
All I have to do is make my monthly cashflow (after income taxes, of course) become larger than my monthly expenses. I spend my time, not stressing or fearing money, but thinking through ways I can make it, use other people's (legally), and make money work for me. Screw retiring at 65 - I'm shootin' for 30.
Just take a few minutes a day to picture what you want. Relax, breathe, imagine. It will happen. Now kick some *** and be a name!
2007-01-12 04:50:59 · answer #2 · answered by wood_vulture 4 · 0⤊ 1⤋
I keep most of my earnings in my businesses accounts so I don't have to report it as income. Between my house, vehicles, insurance and utilities I show very little income.
So my personal account has very little in it at any given time. Just enough play money and for some food and minor items.
My business accounts are a different story but I won't bother going into detail. You're supposed to live off of 70% of your income.
10% goes to long term investments so you avoid having to rely solely upon pension (see Enron) or government welfare (Social Security & Medicare). 10% goes to capital investments: education and business investments. 10% you give away: church or some non-profit or just "gifts".
Fact is most people fail to do all that which is why most people will wind up worrying about money, relying on the government to take care of what they failed to do for themselves and living paycheck to paycheck.
2007-01-12 05:45:14 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Im not going to say what i have but I do make sure I dont spend over a certain limit so that I have a wad of money in there if there was ever an emergancy. You never know.
2007-01-12 04:49:39 · answer #4 · answered by ♪ Rachel ♫ 6 · 0⤊ 0⤋
I have about a year's average expenditure in cash or readily accessible accounts. I think most people aim for six month's worth.
Any less than three month's worth and annual bills can cause cash flow problems.
2007-01-12 05:33:49 · answer #5 · answered by tringyokel 6 · 0⤊ 0⤋
Most people live paycheck to paycheck, which to me is something to be worried about- if you are in a position where you have a few months worth of money at your disposal, that should be a good emergency fund.
2007-01-12 05:02:50 · answer #6 · answered by morlock825 4 · 0⤊ 0⤋
Not much at all!
But I do own a modest house, a decent car, I have almost 3 children ..
enough to get by and live comfortable.
2007-01-12 04:51:56 · answer #7 · answered by timberleigh 4 · 0⤊ 0⤋
$25 - $50 after paying bills. You just have to learn to adjust and manage your money until you can do better.
Are you living above your means? You can still do things without going broke.
2007-01-12 09:34:33 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Let's see...at Washington Mutual I have -$700, at Bank of America -$55, and at US Bank, -$300, so......does that help?
2007-01-12 04:49:18 · answer #9 · answered by Super Chic 1 · 0⤊ 0⤋
Most cases at least 100 dollars.
2007-01-12 04:51:25 · answer #10 · answered by Counsellor 3 · 0⤊ 0⤋
We have enough to pay our expenses for at least 6 months.
2007-01-12 09:01:02 · answer #11 · answered by parsonsel 6 · 0⤊ 0⤋