Why I Hate Large Balances in My Checking Account

This past weekend was crazy. My sister's volleyball club placed 11th overall in her league (12 year old girls) and ended up #1 out of all of the Northern CA teams at the National Junior Qualifiers this past weekend! I am so proud of her!

I'm not sure if I blogged about it yet but I did tweet this (another reason to follow me on twitter!) - We did not get the property we both really wanted. Apparently even after our aggressive offer, someone outbid us and we were not even given a counteroffer by Fannie Mae. We were pretty bummed out but hey, everything happens for a reason. "Do not give up" seems to be my motto for 2012 and I'm sticking with it. The perfect one will come along when it is time. 

Anyway, because our lender told us to transfer the balance for the down payment into our checking accounts so it would be ready to go, I had over $25,000 just sitting in my checking account. This makes me so uncomfortable because I usually only leave a small balance in there and I use my credit cards all the time to get rewards. Yes, I'm that annoying person that charges a few bucks. Sorry!

Back to my story. I get sidetracked easily.

I decided last Thursday that I would transfer all of my money back into my ING savings account and left $100 in my checking account. After we found out that we did not get the place I wanted my savings to incur interest so I transferred it immediately. Turns out I forgot that I did my bi-weekly thing of paying off my credit cards a few days before that and it hadn't posted up yet. Well lucky me, I overdrafted and even after the overdraft protection where they take money out of your savings automatically, I was hit with a $10 overdraft protection charge. It's not $35 which is nice, but still....$10! I swore to myself that I'd never get an overdraft fee again.

This wasn't even because I wasn't tracking my spending. I was just being stupid and forgetful, and probably really excited to see my family this past weekend. Ah. Oh well. Lesson learned.

Do you leave huge balances in your daily checking account? My BF totally does and I have no idea how that doesn't make him nervous. He has one account for his cash, and it's his checking account. Fun stuff.  Happy Monday!


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