I have realized that I, sometimes leave too little money in my non-interest earning accounts as I approach the end of the month. I am a bit obsessed about keeping nearly all of my money in interest earning accounts.
I just had to shuffle some money around to meet the end of month bills because of that.
Was it due to unexpected expenses? Not really. I just felt like donating more money to a charity this month and I did not have my infamous budget sheet with me so, I used the wrong account to make the donation. Couple of days later, I realized my mistake and moved some money around in three separate accounts. Thankfully, I did not miss any of the automatic payments and ended up being charged a late fee. That would make me kick myself.
In the USA, FDIC insurance is up to USD 250,000 which is great. In this country, it is up to TL 100,000 which is about USD 28,600 these days. So, I have to use a number of banks to keep my money in. I only use reputable banks and usually keep more money than the insured amount. Still, I have to deal with a number of banks and multiple accounts. That makes management harder.
Mind you, the interest rates in this country are around 12-14 % for TL and 2,5-4% for USD. That is why, I try to lock my money in interest earning accounts.