Earlier this week, I moved the bulk of my money into my trading account. Only now do I realize just how much it is. I have roughly $2.25 in the rest of my bank accounts. On average though, I think I do maintain a fairly high average balance, I'll guess that I clear my accounts every time I have 4-5K. As a rough estimate, I take in about 1k every pay day, so:
empty 2Weeks
1k 2Weeks
2k 2Weeks
3k 2Weeks
4k cleaned out to investing account
over the course of 8 weeks there's (1+2+3)x2 k weeks, units that'll make anyone cringe. So my average balance is $12k weeks/8weeks, weeks factor out leaving an average balance of $1.5k. If I could get an extra 1% return on my cash, I'd get an extra $15 a year. So, question of the day, how important is it to get the absolute best rate and how much are you willing to let slip by?
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