<prompt> Human: To preface, Im not a financial expert by any means. This is like a personal finance ELI5 question. Also for reference, Im 22 so were not dealing with a ton of money here. Ive been reading a lot about money devaluation and inflation recently and the more I read, I cant help but feel like traditional savings and money market accounts are pointless beyond an emergency fund. My money market account earns an APY of 0.85. From what Ive seen, thats pretty damn good. The only accounts Ive seen with a higher APY are regular savings accounts and Ive never seen anything over 1 that wasnt a CD. But I cant help but wonder, does the meager return I get in interest from letting money sit in a savings account, cover the rate of inflationdevaluation, or am I losing money by letting it sit there? EDIT: On ignore the previous metals comment. Stupid assumption on my part.  <response>: Would it not make more sense to invest most of my money in funds based in precious metals or something else that retains its value over time better?Precious metals dont retain their value over time better.Please read the information found in the FAQ particularly I Have X ... What Do I Do With It?! You may find Your IRA and You: Basic Information and Your 401k and You: Basic Information worth a read as well.There are plenty of reasons to maintain a savings account past your emergency fund. Short-term savings goals, for example. And the fact that youll likely need one to pay certain bills like utilities or credit cards or as a pass-through to move money to other places. 