[LuxLiving]

Mom-from-Missouri -

You might have small amounts but you could still take advantage of the MM rates. We don't keep a lot in checking either beyond the bills. Here's what we do though:

1)Hubster's checks are direct-deposited into our Money Market Account which is at a local bank where it earns 4.56%.

2)On the first I have an automatic transfer set up to load the local checking account (same bank as MM) up for bill paying much of which can be done free thru our banks bill-pay.

3)Pay lots of my other bills online at their websites, but can still write local check to pay some of them. Get cash out for allowances/spending money at drive-thru or our banks ATM.

4)Move any long term savings into my online savings accounts 5.05%+ from the checking account by online transfers.

It only takes 2-3 days for money to come back into our checking if we were to need it for something.

It may seem like some effort to set up but if you can get out ahead of your bills instead of just paycheck to paycheck your money can begin to work for you, instead of just you working for it! Once it's set up it's easy to transfer your money around where you need it to be.