I’m not sure why, but I’ve built up quite a cushion in my Chase savings account– just over $12,000 as I’m writing this. This is despite having made an extra mortgage payment of $2,000 just recently, and some transfers to other accounts. I use this Chase account to receive my direct deposit pay, and transfer money into my checking account to pay bills. I wondered if I’d made a mistake and forgotten to pay a bill, but apparently I’m all caught up!
The problem is that this cash is barely earning any interest. I think it’s time to start shopping for some mutual funds again, and also transfer some money to my other savings account at FNBO, which earns more interest. I suppose I could also make another additional principal payment on my mortgage. In any case, not being able to decide what to do with over $10,000 is a nice problem to have!
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