How Much Cash to Keep in Your Chequing vs Savings Account

There’s no perfect number for everyone, but a simple way to think about it is:

• Chequing: enough for upcoming bills + a small buffer

• Savings: everything else, especially your emergency fund and short term goals

Chequing is for money that’s about to move; savings is for money that needs to grow.

Using KOHO Everything as Your “Savings” Side

If you want your savings to earn more but still stay flexible, KOHO Everything:

• Grow your savings with 3.5% interest, one of the highest rates in Canada

• Earn a 2% cash back rate on groceries, eating, drinking, and transportation and 0.5% cash back on everything else

• There are no foreign exchange fees, so you save on international purchases and travel

• Unlimited transactions and free e-transfers

• No minimum balance required, ever

How to Decide Your Own Split

1. Add up your essential monthly expenses

   • Rent or mortgage, utilities, groceries, transportation, minimum debt payments.

2. Pick a chequing buffer

   • Many people keep around 1–2 weeks to 1 month of expenses in chequing so bills clear safely and small surprises don’t cause overdrafts.

3. Move the rest to savings

   • Anything above that buffer can live in a high interest setup so it actually grows.

4. Review once in a while

   • If your income, bills, or comfort level change, adjust how much you park in chequing vs savings.

The goal isn’t to hit a perfect number—it’s to keep enough in chequing that you feel calm about upcoming payments, and as much as possible in savings so your money isn’t just sitting there doing nothing.