Be careful with savings accounts. I made an account in elementary school at a local bank. I had a couple hundred dollars in the account. However because I was not making money, I stopped adding pocket change. At some point Chase bought out the local bank. In that merger Chase changed my account from a no-fee student savings account to a maintence account. With that change, Chase started taking $5 a month! One day I got a statement that said they closed the account because of insufficient funds. The bastards stole all my money! So make sure there are no fees for non-use or some stupid crap like that.

If your paying rent and such from a checking account. I recommend a Fidelity Cash Management account. It’s a checking account with an interest rate (currently at 2.19%), so the money sitting in there before your rent payment happens it’s making (some) money.