Just an interesting topic for some fun.
Co-worker was saying he moves all his money into his savings account and never has a balance of more than $200 in his chequeing account. I asked him about mortgage payments, insurance etc etc. He said he just has a calendar notification and every 2 weeks / monthly etc he moves the money into his chequeing for that payment that is about to come out.
That seems like way too much work to me, and if you forget well I guess you overdraft and lose all the extra savings you got out of the savings account.
For me I need to keep at least $3000 - $5000 in my chequeing account or I have the hebee-jebees it just freaks me out. I see my chequeing account as a place that holds money for bills and any spending I may need to do (like purchase some paint to paint my living room or whatever). I use my credit card for everything and pay monthly but will not buy it if the money isn't available to spend in the first place.
What do others do? I consider my savings as "emergency" I have an emergency savings I never touch and a small savings for quicker emergencies that I wish to never touch .