<prompt> Human: Im a college freshman, and I know the most common advice for people my age is to put that money towards my education. However, within the past few months Ive been budgeting and have built up a not-too-shabby reserve of 700.At the beginning of the semester I picked up a copy of Investing for Dummies, and it heavily suggests to put money into mutual funds rather than putting keeping them in a savings account that way it will passively accrue money over time and not be eaten up by inflation. Would it be a good idea to put my money in a fund and then build that reserve back up over winter break when my expenses will be low, or should I do something else? Also, is it a liquid enough asset that I could pull my cash out whenever needed?  <response>: Your 700 is best in a savings account as an emergency fund. 