There are a couple of options that may be an option for stashing some cash.

A certificate of deposit (CD) lets you deposit money with a fixed rate for a set period of time. A money market is a fund you can put money in that often has a higher rate of return.

Once you have three to six months’ savings in cash, consider a CD or money market account.

Wealth manager Pete Eckerline says a lot of regular savings accounts are paying less than 1%. Now, after a bit of a dip, CD rates are headed up.

” …I saw 14-month CDs at 4.4%,” Eckerline said.

If you don’t want to tie up money for an extended period, consider the high-yield money market, keeping your cash at your fingertips.

“You can move into high-yielding money markets of about 3.75%,” said Eckerline.

These rates won’t fill your pockets full of cash, but as rates move up, it just makes your money work a little harder for you.

“You can certainly do a lot better than a savings rate,” added Eckerline.

The place where you do your banking may just have something to help you with your savings stash.