My LinkedIn post last week about only paying my credit card balance once a month went kinda viral – 39,000 impressions and counting!
(For context, a “good” performing post will get 1,000.)
As a result, I got quite a few clarifying questions from the FZ audience, so I figured a follow-up was warranted.
The main question was how much cash I keep on hand.
The answer? $200.
Every other penny I have is ‘invested’ even if it’s just in a money market fund earning 5.25%.
I scheduled all of my credit cards to be due on the 18th each month (after our 2nd paychecks).
After we’re paid, I add up the totals for the scheduled credit card payments, leave that amount in checking and move everything else into the money market fund… except for $200.
I’m obsessed with making sure every penny I have is earning its keep.
Except for that $200, I simply refuse to support freeloading pennies.
