Leaving money in your checking account might make you spend more than you planned, simply because the money is available. The money in your checking is also not earning any return.
Instead, lessen the temptation. Try budgeting carefully enough and transfer the extra money into savings and retirement accounts. By only keeping what is needed in your checking account, you won't feel tempted to spend more.
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Similar ideas to Myth: Leave Extra Cash in Checking
To be able to actually save money on a regular basis, you should first make sure that you cannot touch the money that is intended to be saved.ย
Ensure this is by keeping your money in two different accounts: aย checking and a savings one. The accounts should be at different banks, making it...
Never keep more than you need in cash or in a checking account.
Grow your money in the short-term by storing it in a high-yield savings account or certificate of deposit.
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