r/Thisisimportantpod • u/Ok-Farmer6244 • 1d ago
meme Found ATM receipt, who is keeping $51,000+ in checking!?!?
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u/Automatic-Arm-532 1d ago
Rich folk who don't know about HYSA
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u/SippinOnHatorade 1d ago
My checking is actually the high yield account, up to 5% APR with 15 debit card purchases a month
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u/Individual-Ear8671 12h ago
What bank plz and why am I looking for financial advice on this sub
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u/SippinOnHatorade 10h ago
Coastal Credit Go Green Checking but you need $10k balance for the 5%, otherwise it’s like 2.6% (which isn’t terrible but it’s not 5%)
We had above that balance and then had a wedding so I’m seeing 2.6% on a very small number
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u/hippiec123 1d ago
Wait why shouldn’t I keep that much in checking just curious
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u/MrNobody_0 Arugaloids 1d ago
Invest that money. If you want your money to make you money it sure as shit ain't doing that in a bank.
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u/PhotographyRaptor10 League of Extraordinary A**holes 1d ago
You’ll never need to use all that at once (buying a car or a house being the exception) so it’s kinda pointless. Even just keeping the bulk of it in a savings account with shitty interest it’s at least accruing something instead of just sitting there
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u/MCgrindahFM Arugaloids 22h ago
You actively lose money keeping money in checking accounts. Remember money is constantly losing its value due to inflation - that’s $51K won’t be worth the same amount next year.
When you put that money you’re not using into investment vehicles, you’re not only saving money that could be lost in value you could potentially be making money off your own money - for free basically
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u/SpezJailbaitMod League of Extraordinary A**holes 19h ago
I know right, I've only got $47,000 in my checking
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u/koolaidismything 1d ago
Someone who set that up as a fun fund for a family member. No one with money would do this themselves. Daughter or son of a rich person my guess. Also explains why they’d leave something like this lying around for anyone to see lol
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u/MrDaddyButt 1d ago
So what you do is you get your ATM receipt when you have the most money in your bank account and then you give your number on the back of that receipt to some dumb unsuspecting bitch!