I opened a money market account

Back before three year olds, I used to be more up to date on savings accounts, interest rates, and where was the best place to park my funds.

Well, now that time runs on a whole different circuit with little dude, I'm not so savvy and up to date. I was scrolling through my facebook feed in a 5 minutes for mom moment, and clicked on a random finance article otherwise know as "click bait sponsor ad thing"... and it actually had helpful info in it!

I found out that there were some money market accounts (MMAs) offering interest rates above 2%. The one in the article was from a bank I recognized at 2.10% so, instead of using those affiliate click bait links, I pulled up bankrate.com on our PC and did a quick check on their list of current high yield Savings/MMAs.

Sure enough, the link from the story was 5th from the top. Right underneath it, was capital one with 2% interest.

I already have my emergency fund with capitol one...

(and like 19 other savings accounts)... But that money is only earning 1% in a savings account.

After a quick browse through the top contenders, I could get a higher rate of return with a bank I've never heard of... but considering I had already wasted my 5 minutes of mom time, I opted for simple. I logged into to my existing account, opened an MMA, and had our emergency fund money moved over and instantly linked to all of my existing bank accounts with capitol one... and doubled my interest rate.

In a given year, we would have earned around $170 on our emergency fund because we keep the whole darn thing liquid like your supposed to do.

• It's just shy of 6 months of bare bones living expenses including paying out of pocket for health insurance assuming we both loose our jobs. 
• I don't believe in "investing" my emergency fund because an emergency can happen at anytime, and I don't want to watch it loose $$$$ overnight because someone in congress did something and the market decided to revolt. I like to sleep at night knowing my $$$ is still there.  
• Aa a general rule of thumb, any money you need to access for a purchase that isn't more than 3 years away, should be liquid. 
• Soap box rant complete.

So, since I refuse to invest that cash for practical purposes, moving it to an MMA is a no brainer, considering we will now earn about $340.00 for doing nothing.

Now sure what the difference between an MMA and a Savings Account is? You can watch the video on this website. It's straightforward and under 2 minutes long and it would take me way longer to type out what they did in an awesome video. (your welcome)

So for that little nugget of info, thank you facebook click bait.