When it comes to traditional checking and savings accounts, some people recommend a specific

dollar amount to have in there at all times. And most people assume that there's no such

thing as to have too much money and savings. But I have a slightly different take on this topic,

so we're going to chat

about that today. And before we continue, make sure to like and subscribe and share this episode

with a friend who will appreciate this advice. All right, in general, the amount of money that

you have in your checking account and your savings account will depend on a lot of factors.

So obviously your income and your lifestyle play a part of it.

But it's also important to consider where you are in relation to other financial priorities.

So number one, let's talk about savings.

First and foremost, your main goal should be to get $1,000 in a starter emergency fund.

And 40% of Americans cannot cover a $400 emergency in cash.

So, $1,000 is like a great starting point.

And so that emergency fund can be kept in a high-yield savings account if that's what you want.

So again, once you get that $1,000, put it in a high-yield savings account.

The next goal that you're going to have is bump up that savings to three to six months

of expenses once you are out of debt. So once you have all of that, that can be sitting in an

account that you can get to. So this can be a money market account, a high-yield savings

account, you know, whatever it looks like. But from a savings goal perspective, how much money do you have in savings? That's what I

suggest, three to six months of expenses. And that's at the least amount and the most amount, right? So I don't

want you having a year's worth in there because I do think your money could be making money,

more money somewhere else. But having that cash available is so key. Now, another savings goal is to

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