The 411 on Your 911 Fund
Stick with a Federally Insured Bank or Credit Union
In the rare event something dire happens, federal insurance will reimburse you (up to $250,000 per person, per bank). At the bank, look for the FDIC logo; at the credit union, make sure there's an NCUA insignia.
Consider a Money Market Deposit Account (MMDA)
You may be able to earn a little more interest than you would with traditional savings: The average yield on a $50,000 MMDA is currently 0.96 percent.
Look into Bank and Credit Union Certificates of Deposit
The yield on a CD depends on its duration and the amount you deposit; the longer the term, the higher your interest rate. You're able to get your money out of a CD at any point, but you may have to forfeit some of the interest you've earned.
Trade for Free
TDAmeritrade's program (TDAmeritrade.com/suzeorman) offers 30 free trades for one year.
More: Should you invest any of your emergency savings in the stock market?
Suze Orman's most recent book is her Action Plan: New Rules for New Times (Spiegel & Grau). Ask Suze your question
Note: After the October 2010 issue went to press, Ameritrade discontinued the $100 Save Yourself account offer. We regret any inconvenience or confusion this may have caused.