Move 17K from 0.4% interest savings to 3% interest personal checking?

[BrendonTW]

I pay myself $150 a week out of my business account. I have a personal account for checking (spending money) where my paycheck goes. I have a separate savings account with 17 thousand in it. It's earning .4 percent interest. My personal checking account is earning 3 percent. It seems NUTS not to move this lump sum to this unspeakable interest rate account. But how would I keep track of my $150 paycheck per week with this extra sum?

[Greebo]

Simple enough - set up a spreadsheet with a starting balance of 17,000. Every time they pay you interest, you take the old balance times 0.03 divided by 12 and add that to the balance to get a new balance.

When you add $150, you add that to the new balance.

Something like:
a b c d
1 Date Balance Change new balance Reason
2 1/1/2011 $17000 +17000 =b2+c2 initial deposit
3 1/8/2011 =d2 +150 =b3+c3 paycheck
4 1/31/2011 =d3 =B4*.03/12 =b4+c4 interest

will give you
a b c d
1 Date Balance Change new balance Reason
2 1/1/2011 $17000 +17000 $17000 initial deposit
3 1/8/2011 $17000 +150 $17500 paycheck
4 1/31/2011 $17150 42.88 $17192.88

[Contrary Housewife]

Open a 2nd checking account and skip the math.