Easy access is one of the important characteristics when you invest emergency fund cash. That is, in case of an emergency how easily you can get on the money is important. Emergency fund will help you to cope up with unexpected life events like a job loss, medical situation, home repair or some other expenses that you never dreamed of.
Here are 3 places where should you save or invest your emergency fund cash.
- High-yield savings accounts
- Money market accounts
- Money market mutual funds
For non-emergency savings Certificate of Deposit (CD) offer you a better interest rate on your money.