The Cash Reserve and High Yield Savings Accounts

When developing a financial plan I am a huge proponent in building a cash reserve as the first step. That step typically includes a tiered reserve which contains investemnt options where all that money is easily obtainable. One of those tiers is always high yield savings accounts. Though cash reserves are created for an emrgency situation, or just to give a sense of security it makes little sense to let banks hold onto that money for free doesn't it?

The link I privided above details some education about high yield savings accounts as well as the ability to search, and find ones that will get you the best options for your cash reserves. Money should never be sitting in an account for free. Be it at a bank, or an online bank, there is plenty of competition out there to hold your reserves that the ability to get a very good interest rate that there is no reason not to check it out.