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Chief
Liquid cash should really never be more than a couple months of expenses for the vast majority of people.
You could use a money market account. I use Vanguard's short-term investment grade bond fund as my buffer between checking and investing. I keep almost nothing in my bank savings account. I keep 1 month in checking and ~4 months in the short term bond fund. It's pretty stable, pays monthly interest and I can move money to/from checking in 2-3 days. If the amount in the bond fund grows beyond that 4 month mark, I invest the overage. I have regular monthly fund purchases from my checking account so i'm not making that many moves back/forth from the bond fund.
I would add that I am relatively low risk but want to keep things fairly liquid (e.g. no bonds)
Pro
LOL... Treasury Bonds are the most liquid investment you can get short of cash
Chief
Given that percentages are relative terms - what’s the total value of your portfolio (including cash) at the moment?
Pro
Checking Account - Only what's required for your regular payments + buffer for unexpected cash outlay
Savings Account - 6 months worth of expenses
Stocks/Investments - Everything else
Inflation is still incredibly low so I wouldn't really let that drive your decision.
I usually try for ~ 4-6 months living expenses. Maybe another 10-5% cash in investment accounts for opportunistic buying.