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Old 06-18-2017, 12:15 PM   #21
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I'm also talking about the work of being certain I have enough in the check book to meet my quite variable spending. For 1%, I then have to move money around and that to me is work. Plus, if I get it wrong, I lose in one returned check what I made with all my efforts. ................
If you can find a checking acct w/ a line of credit attached , that can be quite handy . I've had them w/ a CU and w/ a smaller bank. If you overdraft the checking, the LOC pays the overage up to some preset limit that you can determine. There is no $30 overdraft fee........only the interest on the LOC.....granted it may be in the region of 10% APY but it amounts to some cents/day in most cases.
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Old 06-18-2017, 12:28 PM   #22
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When brokerage money market funds stopped paying reasonable interest rates I gradually opened various high yield savings accounts over several years. These also provided the nice advantage of FDIC insurance. Once open, the transfers are super easy, and fast (often next day, sometimes 3). So I have funds sitting various places, and one of them gets the annual spend from the brokerage and holds funds for estimated taxes. Monthly funds get transferred to bank checking for expenses. I occasionally adjust the amount. It runs very smoothly and I rarely make adjustments.

I keep a decent buffer in bank checking, with alerts if it goes below a certain amount, and Quicken let's me see my expected bills for the month.

But, yeah, I can see how someone might think that's too much work.
I have a similar set-up in place with automative transfers to replenish the main account. So far, it seems to work really well with little input required.
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Old 06-20-2017, 03:45 PM   #23
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Ally bank 1.50% APR, no penalty 11mo CD @25K+ and no gimmicks, looks to be the best in the short term category.

https://www.ally.com/bank/no-penalty-cd/
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Old 06-20-2017, 03:55 PM   #24
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Yes - that is a big improvement. Last Dec their 11 month no penalty CD was 1.25%

Thanks!
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