This was set up before transaction limits were removed by the Fed. However we stuck with it because the checking account doesn't have much money in it at any given time and its very easy to see that there is enough money for the regular monthly bills and if any bill has increased. The checking account also has a debit card on it which gives us some cash back for some of the bills which take it. The savings account is very easy to look at and make sure we are escrowing enough money to cover the property taxes and insurance. Saves a small amount of mental overhead in trying to keep it separate in one account.OP here. Just out of curiosity, why transfer to checking vs paying directly from the joint savings account? Transaction limits and/or no autopay set up option (or something else)? I am just looking for the simplest option that will actually work.
Statistics: Posted by PersonalFinanceJam — Wed Aug 21, 2024 9:30 pm — Replies 24 — Views 1584