High yield savings accounts are great if you’re saving up for something big or if you’re temporarily storing the cash you earned with your high-income skills.
Certificate of Deposits (CD) are closely related to the savings accounts but have higher interests. The FDIC also insures Cds. That means they are practically risk-free.
Money market accounts are closely related to savings accounts and CDs. They often have a better rate than the savings accounts but have more liquidity
than CDs.