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MMA's are good alternatives (and should be used instead of) savings accts. You can usually find a good one that pays around 5% as opposed to the less than 2% that savings accts earn. The only thing is usually you have to open with a large amount = $1000 - $2000. This is at least to open it to not get charged any maintenance fees. Check on the minimum balance. A good thing to open is and Asset Builder account which lets you open with at least $50 either from direct deposit from you employer/checking acct. Either way, this is how I have it set up thru T. Rowe Price. You may want to look around, but it's definitely better than your savings.
Good Luck.
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