<prompt> Human: Before anyone says read the wiki, I did. All I could find about savings was An emergency fund should be a relatively liquid sum of money that you dont touch unless something unexpected comes up. Unexpected travel, essential appliance replacement, and sudden medical proceduresare all user-submitted examples of emergency funds in action. If you need to draw from your emergency fund at any time, your first priority as soon as you get back on your feet should be to replenish it. Treat your emergency fund right and it will return the favor.How should I size my emergency fund?For most people, 3 to 6 months of expenses is good. A larger emergency fund e.g., 9 to 12 months may be warranted if your income is variable or uncertain. A smaller emergency fund of 1,000 or 1 month of expenses is temporarily acceptable while paying off credit card debt or other debts with interest rates above 10. Read Figuring the Size of Your Emergency Fund for more.What kind of account should I hold my emergency fund in?Generally emergency funds should be held in safe investments you can liquidate in a hurry. FDIC-insured savings or checking accounts are the most common choice. CDs and I-bonds can be used too. Things that should not be used include stocks, credit cards, HELOCs, or anything that is volatile in value or that can be taken away without warning such as lines of credit. Read the FAQ section on emergency funds for more...What I dont understand is An emergency fund should be a relatively liquid sum of money that you dont touchYes. But is there any specific reason I need to open a savings account to do so? Why cant I just leave that sum in my checking account and spend around it? Example: if I have 3000 in my bank and I set my savings goal as 2500, then okay. Ill only spend 500 dollars of my 3000. I didnt need a special account to be able to do that. Savings accounts are no fee accounts well my bank account charges nothing except 3 dollars a month for membership, and like once a year they give me a 15 dollar reward for staying with them. so that doesnt effect my savings goal. Savings account accrue interest yeah like 1 dollar a year. Id contribute more to my savings if I picked up change off of the street or if I cleaned out my moms old purses that she doesnt bother to throw away or take all of the loose change out of. If you lost your wallet and your card got stolen at least your entire funds wouldnt be on that one single account. My wallet only goes in my pocket or on my nightstand. The moment its gone Ill call my bank and lock my account. No one is getting my money. That quote also mentions FDIC-insured savings or checking accounts are the most common choice.Yes. Checking accounts. So even this article says a checking account is fine. So why still bother with a savings account?  <response>: Why do you pay 3 a month just for a bank account? Find a free one. Also, although interest rates are low, 1 at somewhere like ally is still better than nothing. I make about 150year from my savings account 