People who give financial advice never shut the fuck up about emergency funds. I agree the concept is fantastic, but where the hell am I supposed to come up with three to six months salary to put in? Also, my traditional savings account currently yields less than the rate of inflation - making it a dog.

Ameriprise clued me in to high yield internet savings accounts. These can be easily identified, as direct is usually appended to the name of the bank. For example, I use HSBC Direct. Although their rate is not the highest, I am familiar with the bank from my days in the B-low and they offer an ATM card. Opening an HSBC Direct account was easy and accomplished on-line. So far, I am very satisfied with the account. As an aside, Bankrate is an excellent place to find others. On a monthly basis, seeing the interest I earned on the backs of the proletariat cheers me and encourages more saving.

Setting up the account is easy. Filling it with cash and sending it across the border is not. Prior to opening my HSBC Direct account, I had a two Starbucks a day habit. At four dollars for a cup of coffee, this worked out to 160 clams a month when multiplied by twenty work days. Cutting back to one overpriced coffee product a day hooked me up with eighty extra ducats a month. Although it will take some time, eventually the cheese and interest will pile up into a reasonable emergency fund.

As several banks (e.g. Citi, Countrywide, and Wachovia) are currently learning, liquidity is important. The point of an emergency fund is to avoid selling equities, options, or other positions at a loss when unexpected expenses or job losses fuck up your program.