Where You Should Keep Your Emergency Fund

Where You Should Keep Your Emergency Fund

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[respinoza]

In most bank CD, you only forfeit the interest accrued, you don’t pay a penalty. So if you put it in a cd and you do have an “emergency” then you can just close the cd and only forfeit the interest and possibly not even all of it depending on the term

[chrisconsorte]

I keep mine in a bank that I do not have a checking account with.

[shanisafan]

There are no penalty CDs where you can withdraw without losing interest. I keep mine fully liquid in a HYSA.

[Georgemorales]

mine is under the mattress with a 45 next to it 😎 don't come near by😂

[edhiestand]

I don't agree with keeping this amount of money on the sideline. If we have a well funded Vanguard account that can be transferred into our bank account in 48 hours why keep money on the sideline?

[juliejohnson]

Mine is in a savings account with 5.5% interest 😁

[RobertBeedle]

There are savings accounts that get over 4 percent right now. Im at 4.6 percent and have no fees or penalties.

[jimmymcgill]

CD's pay's more then a bank account. They have They do have no-penalty CD's.

[nw]

Can’t you lose money on a high yield due to inflation ?

[Crunchifyable]

Right now I think a CD is a better option. Or at least a good part in one.

[philipmurray]

Place in old coffee can and put it in a wall opening behind family photo.

[smoothdahustla]

Mines are safely stored in a 4-week T-Bill.

[emoney]

Mine is in I-bonds, so it should be 3-6 months forever since it adjusts for inflation. A fee is no big deal.

[andyburris]

I think enough in cash to cover deductibles and the rest in a CD/ I-bond with short maturation periods makes sense for those with high defectible plans.

[KenNy-cgln]

Gold coins. A tiny bit harder to liquidate than cash (which is good) and inflation proof

[christopher]

And it will lose value over time due to inflation.

[danmeck]

Put in a high yeild savings account, but the point is don't make interest 😂😂

[unstoppablebox]

This may be too much information but I buried mine under a tree in a field

[Joshualibbyy]

Hey American express CDs are fire. I put in like $500 and even with a small amount the interest IS amazing

[missouri]

This was not very good advice whatsoever in fact it was kind of stupid
Like the one post says you can put it in a CD and if you need it it’s there at any time and all you do is forfeit the interest
George has gone off of the deep end on this one because money in a CD is readily available as soon as the bank opens