Cash management is crucial for financial health. Keep 3-6 months of expenses as an emergency fund. Tailor based on personal circumstances. Consider short-term goals. Excess cash should be invested wisely. Balance accessibility, safety, and returns with savings accounts and money market funds. Know FDIC insurance limits to protect funds.

High cash holdings can hinder growth. Invest wisely after meeting emergency fund and short-term goals. Consider municipal money market funds for higher after-tax returns in high tax brackets. Be aware of FDIC insurance limits and spread cash across multiple banks if needed. Protect funds while growing wealth effectively.

Read more at Yahoo Finance: How to manage your money the smart way