I use a CD ladder for this purpose. Twelve one year CDs, each maturing on different months, set to automatically reinvest unless we decide otherwise. Works well

I use a CD ladder for this purpose. Twelve one year CDs, each maturing on different months, set to automatically reinvest unless we decide otherwise. Works well for the people who need to have their emergency money a bit harder to get too, too. We just like getting slightly higher interest.