Hi,
I have virtually no cash reserves at the moment, which makes me very nervous. I've been focussing on paying off debt at each paycheck the last 2 years.
Now, I'm thinking to swing the other way to avoid any disasters.
I could just throw part of each paycheck into my Credit Union savings account but the interest rate is miserable .... < 1%. Might as well stuff it in a mattress!!
However, it is most liquid. I can get access to the funds same day, almost instantly.
I would like a better way of managing my cash reserves. What do people use? Money Market funds?
Suggestions?
Disclaimer: I am unsophisticated investor ... meaning ... no experience and clueless.