I have all of my emergency fund in my savings account. I want to keep the money safe and easily accessible. There's nothing better than having your money earn additional money. When you have a high yield savings accounts, you can really rack up the extra money.
I don't think you should take chances with your emergency fund because you never know when something may happen and you might need that money. You don't even need to have your money in a traditional bank. My money is in my credit union account. Credit unions in general pay better interest rates than banks. However, you can't just assume that the banks will pay lower rates. That's why it's so important to visit a website like emoneycentral.com and compare rates. You may find that there is a difference of several percentage points. And that could end up earning you a lot of extra money.
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