Managing your bankroll

[TheProdigy]

[ QUOTE ]
[ QUOTE ]
and the money im losing by not earning like 4.5% interest at my savings account (i use ING) is overshadowed by the fact that i NEVER have to worry about not only going broke, but i never have to worry about having to drop down in limits when i run bad (which is always).

[/ QUOTE ]

A lot of people seem to do this. You have 24 dimes just sitting there earning nothing. Even if you kept 40 buy-ins online, you could have 16 dimes in your account earning interest, which is about $60/month. Is keeping the extra buy-ins worth losing $120/month? Or, put another way, would you pay $60/month to have some extra bankroll cushion?

Even if you're playing 50NL on a 40 buy-in bankroll (4k), you should get an account and start earning interest on some of it. It's a good practice to get into, it's free money, and savings accounts are pretty liquid anyway. Avoid bonds, CDs, etc.

I personally use Etrade savings, which gives 5%, and takes about 2-3 days to transfer back into a checking acct. if I need cash.

[/ QUOTE ]

Yea, I would pay $60/mnth for the extra cushion. I only keep 50 online and have plenty invested, but if 50 was most of my net worth, then yes I would keep it on here for peace of mind.

[pattay]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
and the money im losing by not earning like 4.5% interest at my savings account (i use ING) is overshadowed by the fact that i NEVER have to worry about not only going broke, but i never have to worry about having to drop down in limits when i run bad (which is always).

[/ QUOTE ]

A lot of people seem to do this. You have 24 dimes just sitting there earning nothing. Even if you kept 40 buy-ins online, you could have 16 dimes in your account earning interest, which is about $60/month. Is keeping the extra buy-ins worth losing $120/month? Or, put another way, would you pay $60/month to have some extra bankroll cushion?

Even if you're playing 50NL on a 40 buy-in bankroll (4k), you should get an account and start earning interest on some of it. It's a good practice to get into, it's free money, and savings accounts are pretty liquid anyway. Avoid bonds, CDs, etc.

I personally use Etrade savings, which gives 5%, and takes about 2-3 days to transfer back into a checking acct. if I need cash.

[/ QUOTE ]

Yea, I would pay $60/mnth for the extra cushion. I only keep 50 online and have plenty invested, but if 50 was most of my net worth, then yes I would keep it on here for peace of mind.

[/ QUOTE ]

i knew i wasnt alone

i dont mean to sound condescending or that im the [censored] AT ALL, but 60 dollars a month isnt that much. i have enough in my bank that i can continue at my current standard of living and easily breeze through college without ever worrying about money. i have some stock money investments. i can withdraw my money to pay off college immediately after (thank you scholarships), and until theni highly doubt ill take out more than the occasional splurge money to remind me why im putting in these hours. having the peace of mind of never going broke, or even moving down, is AWESOME