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Robert is involved. He's in Fort Worth, Texas. Come on, Robert, what's going on?

Well, first of all, let me say it's an honor to speak to both of you guys. My question is,

what is the difference between a high-yield savings account and a money market account,

and then where would I open one and which one's the best one to put the money in

when I'm building my step number three, you know, the three to six months emergency fund.

I love that you're even asking these questions.

It's a good question.

So largely, as far as the actual definition goes, there's not much of a difference anymore.

There's two things of note with the money market account that is different from a high-ield

savings. Number one is that money market accounts, many of them include a debit card and check

writing privileges, which high-ield savings account, they don't have that. The other one

that's a downside for the money market accounts is a lot of them have

required minimum deposits and balances, whereas a high-ield savings account, many of them have

gone away from that.

Now, there are money market accounts out there that may have no minimum balances, but that's

largely the biggest differences you'll see.

They're both going to have a competitive interest rate.

I found that high-ield savings accounts have been edging out many of the money market accounts as far as interest goes.

They may have withdrawal transfer limits on both, so there's that caveat there.

And they both should be insured by the FDIC or the NCUA if it's through a credit union.

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