Savings

I will have a savings account for an emergency fund. The reason I won’t keep this money in my Money Market or checking account is because I don’t want to accidentally move or spend this money. Keep in mind, whatever I had left from the cash on hand will be kept in my checking account. Moving the emergency fund to this account will simply not make sense. All of my accounts will be linked to each other – therefore allowing me to move money from one account to another within a couple of days. All three accounts will not be with the same bank.

I might be offered a debit card with my savings. I will decline it. As mentioned, the money can be transferred to the other account within a couple of days. This is just enough friction to make the most of the savings account role. If I should have to spend some of the savings account, I will reduce discretionary spending until the account is refilled.