Cryptocurrency Q&A
How much cash is too much to keep in the bank?
How much cash is too much to keep in the bank?
EchoSolitude
Tue Nov 26 2024
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7 answers
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I'm wondering about the appropriate amount of cash to keep in my bank account. I want to know, how much money is considered too much to keep in the bank? Is there a specific limit or a general rule of thumb that I should follow?
7 answers
CryptoMaven
Thu Nov 28 2024
In the event of a bank failure, any funds exceeding the $250,000 threshold will not be protected by insurance.
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IncheonBeautyBloomingRadiance
Thu Nov 28 2024
A commonly suggested range is three to six months' worth of living expenses.
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Nicola
Thu Nov 28 2024
This means that any amount above $250,000 could potentially be lost if the bank goes under.
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Isabella
Thu Nov 28 2024
For this reason, it is important to diversify your savings and not rely solely on a single bank account.
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AltcoinAdventurer
Thu Nov 28 2024
Financial experts often recommend keeping a certain amount of cash in savings for emergencies.
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