Where should I keep my emergency fund?
A high-yield savings account (HYSA) at an online bank, currently paying 4.0-4.5% APY. Avoid: checking accounts (no interest), CDs (locked up), brokerage accounts (market risk), or under the mattress. The fund should be liquid within 1-3 business days and fully FDIC insured.
More context
A high-yield savings account (HYSA) at an online bank, currently paying 4.0-4.5% APY. Avoid: checking accounts (no interest), CDs (locked up), brokerage accounts (market risk), or under the mattress. The fund should be liquid within 1-3 business days and fully FDIC insured. The exact answer depends on your specific situation — the numbers above are a strong starting point, but the right next step is to plug in your actual figures.
For a deeper analysis, use one of the related tools below — they take your specific income, debt, location, and goals as inputs and produce a tailored answer.