[fintstone]

I use T-Bills for my "savings account." If you use short term TBills online and ladder them, you can constantly have money available within a couple weeks. The money goes directly from my checking account and back in so it "feels" much like a savings account.

I divide my "cash" by 12 and invest in 13-week T-bills. I buy 4 per month for 3 months. On the 4th month, the first set matures and if I need money, I can let one or all 4 mature and the money returns to my bank account (the next month, the next set etc...ad infinitum). If not, I click on "reinvest" and only the return on the previous period goes into my checking account and the rest buys a new T-Bill to replace each.

I just reinvested 4 yesterday at 4.81%...so a $10K T-bill cost $9881.83 yesterday. In 13 weeks, it will pay automatically pay $10K (for a gain of $118.17) into my bank account unless I reinvest. If I do reinvest, only the difference between $10K and the new cost will go into my bank account (@$118.17 unless the return rate changes).