As we've covered before, an emergency fund is a stash of money set aside to cover unexpected expenses. If you're hit with a sudden car repair, medical bill, or period of unemployment, you'll be grateful that you have designated funds to draw from for this very purpose. But where exactly are you pulling those funds from? Stuffing cash under your mattress may seem like an easy option, but there are better choices that allow you to earn interest—while still keeping your funds safe and liquid. Stuffing cash under the mattress(Or a shoebox, or piggy bank—you get the idea.)Pros: Immediately accessible, no fees or account minimums Cons: Zero interest earned, security risks, can be lost or destroyed
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