Question

Where do you keep your Emergency Fund?  

Answer 1

$500 cash, $1, 000 checking emergency fund, $1, 000 account buffer, the rest in a high yield savings account

Comments

@throe which high yield savings account?  

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@apt8561 I have it in Marcus by Goldman Sachs. It’s at 1. 70% APY. It just went down it was at 2% for a while.  

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@throe ok. Online bank, right? Do you keep a large amount of funds in it or cap it with a certain max goal?  

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@apt8561 yes online. We have $19, 000 in the Marcus and a good bit of that will be used when we close on our house and buy furnishings/appliances. We also have a discover savings with $3, 000 at 1. 6 apy that I put $400 weekly into for a long term emergency fund. Once we hit $36, 000 in savings we will discontinue adding to the EF and focus on putting money in investment accounts as both our car and house interest are around 3%.  

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@throe awesome. I need to get on it. Are there any annual or hidden fees with these savings accounts?  

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@apt8561 nope and can open with no minimum.  

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@throe nice. Thank you!  

Answer 2

Credit union with no debit card attached

Answer 3

Ally. I’ve had it about a year, interest went down, but I didn’t use it just for that. Easy to get to the money but not too easy. Super easy to deposit. Out of sight out of mind. I also do sinking funds there in separate acct (they have “buckets” so you can distribute the amount to multiple purposes)

Answer 4

Heard good things about Ally.  

Answer 5

Capital one 360 savings. I opened a checking account with them and keep the debit card on me just in case I have an emergency and need to access the money while on the road.  

Answer 6

In my CU.  

Answer 7

Online acct

Answer 8

Ally. com

Answer 9

Savings account. Separate bank than the account I pay my bills from. I don't have an ATM, but when I need to use the money I can do an online transfer between banks.  

Comments

@kashakashden68 this is my set up too!  

Answer 10

One is in a Money Market at my CU, the other is online at Capital One.  

Answer 11

I was told about an online savings and wealth tracker called Wealthfront. High yield savings accounts are one of their features. It is currently at 1. 78%

Answer 12

Savings account at our bank.  

Answer 13

Capitalone360 savings, it has a higher interest yield and easy to transfer if I need it.  

Answer 14

Money market

Answer 15

Thanks everyone! I have heard of Ally but was concerned how legit it was.  

Answer 16

I keep mine in a high interest e-savings account that I can't directly get to with my debit  

Answer 17

Savings account that I get 2. 5% return on.  

Answer 18

It was in my safe but we are bad with cash and kept picking from it so I moved it to an account, I am much more of a visual person and I don't touch it unless I need to.