Post #3131921

Yup, I was thinking along the lines of a money market savings account. They’re perfect for emergency savings funds because there’s no restrictions on withdrawals like with a CD. If you go below the threshold then you don’t get the higher yield, but that only happens in an emergency when you need to draw from it. I usually keep enough for my recurring expenses in my checking account, so auto-pay goes through without any overdrafts. I keep a little on top of that for discretionary spending and move the rest to savings. Then my regular savings account functions as a buffer. I keep enough in it that I can handle most unforeseen circumstances when they arise without draining from my money market account. It might not be a totally necessary step, but it helps my OCD. As long as that remains topped off, I put the rest into a moneymarket account. It gets a decent yield for a savings account, but not as much as a CD. Once I build that back up to where it should be I’ll probably start investing again in a good mutual fund, probably one that favors certified B corporations with good ESG scores. Hopefully something European (cause fuck the US stock market). I’m kinda recovering from a few years of financial hardship, which is why it’s very much a work in progress. But I’m almost back to where I used to be. So anyway, that’s all why I said I would never have $15K in checking at one time. Just seems like bad money management. Unless I’m literally about to make a $10k purchase, but I can’t think of any reason I’d be doing that.