Theres a big difference between "savings" and "cash in a savings account." Given the current interest rate situation theres essentially no difference between m

Theres a big difference between "savings" and "cash in a savings account." Given the current interest rate situation theres essentially no difference between money in a checking account and money in a savings account, other than that the checking account likely has a debit card of some sort directly linked to it. Both are likely earning near 0% or so close to 0% it makes no difference. Not that long ago CDs were paying >5% so it made sense to put cash into such instruments. Right now a CD is essentially pointless. I would agree, though, that too many people have far too little cash on hand (regardless of where its stored). I often see people that live in a million dollar home but don't have enough cash in their bank account to pay the cable bill. These so called "asset rich cash poor" people are playing with fire since it's often that they banked too much on the appreciation of those assets to justify the situation they've put themselves in. People should maintain a healthy chunk of readily accessible liquid assets which could include non-retirement non-speculative investments and some good old hard cash too.