Case Study: Making Your Lazy Emergency Savings Break a Sweat!

It’s a shame how many people are still earning pennies on the dollar with their hard-earned savings. This case study is for those who are unaware that there are waaaayyyy better options for your emergency fund. (Blind spot alert: even our clients’ most trusted local credit unions are guilty of not being competitive). Below, you’ll take a look at a hypothetical example not too different from many of the clients we’ve helped get more bang for their buck.

The Backstory

Meet Jane Doe, our everyday hero. She’s smart, savvy, and recently had an “aha!” moment about her emergency fund. Tucked safely (but unproductively) in a mega-bank (think Bank of America, Wells Fargo, and Chase), her money was lounging around, and growing at an abysmal rate of 0.01%. Jane knows her cash deserves a better workout return than that, but didn’t realize what she was missing!

For those late to the finance party, an emergency fund is that stash of cash you keep on standby to cover 3 to 6 months of your living expenses (like rent, groceries, utilities, and other essentials). The idea is to have this money ready to step up to the plate whenever life throws you a curveball – like when your car decides to take an unplanned vacation in the middle of the highway.

Please Note: An emergency fund needs to be liquid! Savings that are tied up in stocks or a retirement account should be seen as a last resort. You don’t want to touch those.

The Problem

Big banks have shiny skyscrapers and comfy chairs, but they’re not exactly showering Jane’s money with growth opportunities. We also see that small banks and local credit unions are just as guilty sometimes. It’s clear they have no interest in passing on additional savings. Jane knows her hard-earned cash deserves better. She decides to take matters into her own hands.

The Solutions

In a recent review meeting with her advisor at Crafted Finance. Joe Wride explains that there are multiple options to choose from to start beefing up the returns on her emergency savings. These include:

High-Interest Savings Accounts: High-interest savings accounts have the additional benefits of keeping your money liquid and FDIC-insured up to $250,000. They are surprisingly easy to open and similarly easy to transfer to/from your regular bank account elsewhere. Some great options at the moment include:

  • Ally Bank: Presently, Ally Bank offers 4.25% APY on savings accounts with no minimum balance requirements (Joe uses this one himself). Oh, and you won’t have to pay any monthly fees on your account either!
  • Capital One: At the moment, Capital One is offering 4.3% APY on their savings accounts. There are no monthly fees or need for a minimum balance here either.
  • SoFi: With no minimum balance requirements, overdraft fees, or monthly fees, SoFi can be a great option. Their savings accounts presently offer 4.50% APY.
  • CIT Bank: CIT is offering an impressive 5.05% APY. However, you will need to maintain a minimum balance of $5,000 to earn the interest.

Money Market Mutual Funds: Instead of using a bank, some folks use their investment brokerage accounts. Here are three examples:

  • Charles Schwab Value Advantage Money Fund (ticker SWVXX): No minimum. 7 day yield as of 10/11/2023 is 5.25%, expense ratio is 0.34%.
  • Vanguard Federal Money Market Fund (ticker VMFXX): $3,000 minimum. 7 day yield as of 10/11/2023 is 5.28%, expense ratio is 0.11%
  • Fidelity Government Cash Reserves (ticker FDRXX): No minimum. 7 day yield as of 10/11/2023 is 5.00%, expense ratio is 0.34%.

***Given that interest just started becoming a thing you could actually earn just in the past year, Crafted Finance has introduced a no-fee brokerage account for clients who need this kind of place for their emergency savings. Let us know if you want to discuss.***

The tradeoff of using these options is that it does not come with FDIC protection.

For the BIG FISH: meaning very wealthy households with outsized emergency funds – there is an entire frontier of products/accounts/offerings we can discuss that offer high yields, outsized FDIC protection, etc. It would look like a diversified portfolio of cash equivalent options, but would also mix in things like short-term Treasury bonds.


After talking with Joe, Jane decides to move her 6 months of emergency savings (i.e. $30,000) to a high-yield savings account at Capital One. Not only is she set to stay ahead of the standard 3% inflation rate, but she is now in a position to surpass it. Her savings will earn an additional $1,290 (rather than a pitiful $300) for the year, keeping and boosting her emergency fund’s purchasing power.

Figure Out Where To Put Your Emergency Savings

After Crafted Finance, we love sticking it to financial companies looking out for themselves instead of their customers! However, emergency funds are not a one-size-fits-all solution. Together we can review your specific situation and determine what account type is best for you and your protective dollars.

Don’t hesitate to move your emergency fund to a better spot! Reach out to us today and discover how your savings can not only keep pace with inflation but actually appreciate ahead of it. Feel free to call us at (650) 336-0598, or schedule a complimentary appointment with us today

Investment Advisory Services are offered through Crafted Finance, LLC, a registered investment adviser. Please remember that securities cannot be purchased, sold or traded via e-mail or voice message system. This advertisement and any documents, files or previous advertisements may contain information that is confidential or legally privileged.  If you are not the intended recipient, you are hereby notified that you must not read this transmission and that any disclosure, copying, printing, distribution, or any action or omission of this transmission is strictly prohibited.  If you have received this advertisement in error, please immediately notify the sender by telephone at (650) 336-0598 or return and delete the original advertisements and its attachments without reading or saving in any manner.

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Kristin Harad

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Jon Fogg

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Jon Fogg is a dynamic and innovative content creator who has been making waves in the digital realm. With a passion for creativity and a flair for storytelling, Jon has captivated the financial world through his engaging and diverse content.

When he’s is not working on an SEO blog or case study, you’ll find him enjoying local art galleries or a phenomenal read. Friends and colleagues often commend him for his clear enthusiasm and dedication, which is evident in every project he undertakes. 

Kingston Hollman MBA


Meet Kingston Hollman, the compliance guru everyone’s been talking about. With a sharp mind for regulatory ins and outs, Kingston is all about keeping businesses on the straight and narrow. That’s why he’s a go-to in the compliance world!

Sporting an MBA under his belt, Kingston’s not just about book smarts. He knows the fine dance between business strategy and staying in line with the rules. And guess what? He’s mastered it. Ensuring companies sail smoothly through the often-stormy waters of compliance is his game.

From the get-go, Kingston’s been crafting top-tier compliance programs, tailored just right for all sorts of industries. It’s his eye for detail and that knack for spotting the little things that make him stand out. He doesn’t just set up a system; he fosters a whole vibe of staying compliant, making sure everyone’s on board.

Jessica Martineau

Client Operations Manager

Jessica is a seasoned professional with a diverse background, bringing a decade of expertise across multiple industries. A proud graduate of SPU, her journey in the professional world is marked by significant accomplishments.

With nearly eight years dedicated to managing projects in the graphics and built environment sectors, Jessica has honed her skills as a meticulous Project Manager. This tenure has instilled in her a knack for thriving within organized structures while fostering robust client relationships, a hallmark of her professional ethos.

Her experience in the Finance industry spans almost a decade, where she has held pivotal roles as Lead Client Operations Manager and Director of Operations. Notably, her FINRA SIE Certification stands as a testament to her commitment to excellence.

Jessica’s strengths lie in cultivating enduring client connections, fueled by her passion for delivering thorough solutions. She finds joy in understanding and engaging with her colleagues, nurturing a cohesive work culture.

As a Pacific Northwest native, Jessica enjoys hiking, camping, and skiing. She loves reading, attending live music, plays, and comedy shows. Always a foodie, she delights in discovering new restaurants and revisiting old favorites, especially if there is a water view.

Most importantly, Jessica’s world revolves around her family—her amazing husband, Lee, and their two great kids. They are her inspiration and the anchor to her life outside of work.

Dionne Kelly

Executive Assistant

Let’s dive into the world of Dionne Kelly! Born in St. Kitts and with her roots deep in Barbados, Dionne’s been globe-trotting from her island homes to Canada, the USA, and Belize. Got a love for tropical spots? So does Dionne. Her passport’s got stamps that tell tales of sun, sea, and a bunch of awesome adventures.

Now, when it comes to her profession, Dionne’s the real deal. Over 20 years in the game as an Executive Assistant, she’s been the secret ingredient for bigwig C-suite execs. Think of a challenge, and Dionne’s likely tackled it head-on with her unbeatable organizational skills and eagle eye for detail. 

Oh, and did we mention she’s a foodie? Dionne’s taste buds have danced across diverse culinary landscapes, adding a sprinkle of global flavor to her persona. In the world of executive support, she’s a powerhouse, always two steps ahead and ready to make things happen. 

Joe Wride CFP®

Founder & CEO

Meet Joe Wride, the president and founder of Crafted Finance. With a knack for pension and investment management, insurance, and financial planning, Joe’s all about offering top-notch services without breaking the bank. That’s why he started Crafted Finance!

A proud Finance major from Washington State University, Joe’s got the credentials to back it up as a Chartered Life Underwriter and CERTIFIED FINANCIAL PLANNER™ Professional. Since 2009, he’s been helping individuals, families, and pension plans make sense of their finances. Joe’s even on the board of the Financial Planning Association’s Puget Sound chapter. Check out his LinkedIn profile here.

Joe gets that everyone’s got their own money story. That’s why he’s crafted a unique process to help folks of all stripes manage their finances, whether they’re flying solo, raising a family, or running a company. He’s all about learning and growing to make sure his guidance is just the right fit for his clients.

When he’s not crunching numbers, you’ll find Joe enjoying the Seattle life. He’s into skateboarding at Alki beach, biking, golfing, snowboarding, hiking, and camping. Sports fan? You bet! Joe’s a die-hard supporter of the Cougars, Mariners, Seahawks, and Sonics. But what really matters to him is family time with his wife Jessica, daughter Ocean, and dog Kanga. Joe’s excited to welcome more kiddos into their home through foster care and adoption in the future.

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