How to get the most out of your cash when inflation is running hot

Stocks may be the best way to protect your savings from inflation, but it's also wise to keep some cash on hand for emergency funds, expenses and short-term financial goals. Yet while there's only so much you can do to protect your cash hoard in today's low-yield, high-inflation environment, there are ways to maximize yield on your cash to minimize the effects of inflation.

Online savings accounts have long been considered a great place for your cash. They're as safe as savings accounts at brick-and-mortar banks, but they have a history of rates that are up to eight times higher. Online savings account rates today may be less than the inflation rate today with yields so low, but they remain a good option for your emergency fund.