For many years, banks (and other banking-type institutions) gave APR (annual percentage rate) on savings. They also charged APR on their loans. Even today, they charge APR on their loans . Yet they give only APY (annual percentage yield) on savings. In short, the first is compounded; the second is not. Did they really imagine that no one would notice?
I haven't concerned myself with cash savings since I was about 12. You keep the bare minimum amount of cash around, as cash is nothing but a temporary method of exchange for the value of labor. Liquid assets are worthless until you spend them, and I don't put my money in something of no value.
High yield blue chips and municipal bond ETFs are my bread and butter for liquid assets, although as a construction worker I prefer real estate. If you have the cash for a down payment you can get a mortgage for next to nothing, and I enjoy finding new properties and working an extra 4 hours a day renovating a new big project. Right now though, as both the real estate and stock markets are extremely overvalued, I'm parking most of my money in bond funds. I'm hoping for a correction, and to have enough cash to snatch up another property or two when it happens.