Then, pick a high-yield savings account, and consider a CD ladder for cash you can store safely away.
"This can help you get through tough times without having to rack up high interest rate debt," she says.
Choose an account that pays moreIf you're the most comfortable keeping your cash liquid, certified financial planner Charles Thoman III says that's fine, but consider a savings account that's offering a high interest rate.
"Find one that has a high interest rate, FDIC insurance, and low or no fees."
However, she does recommend always shopping carefully and reading the fine print to understand terms, penalties, and FDIC coverage of a CD you're considering buying.