Article placement secured as part of a paid partnership with a PR firm that sought various media opportunities for Casey Weade and Howard Bailey.

In the world of personal finance, where does an "emergency fund" come in, and why save for emergencies at all?

Because life happens, and you never know when you'll have to pay for it. This year alone, I've spent nearly $1,000 taking my cat, Ringo, to the veterinarian.

An emergency fund is sort of like the jet fuel on your flight to financial freedom. Rather than putting a hefty charge on plastic, you can pay it off right then and there.

Of course, one of the most important aspects of saving your emergency fund is knowing where to stash it. To help you determine which savings vehicle is right for you, we've rounded of the best and worst places to hide your cash.