I am looking for an ideal investment vehicle for the following situation a family member is in (and for which I'll soon be in also, as we both perform the same work).
Our work is seasonal, and it results in us earning extra money for the majority of the year which we use for a "low season" (a few months within the year) during which we may earn little/no money. In addition to this "rotating sum," my relative also has around $3 - 4K in savings, just "for a rainy day." We are wondering if there is an investment vehicle which would enable him to earn interest on all those funds, but at the same time allow for unlimited (or at the very least, a high number of) withdrawals, as he has to dip into part of these funds during our "low season" to pay his bills. So basically, this would be a fairly active account, with credits and debits happening on a regular, even if infrequent, basis.
I am asking this because my friend has a savings account right now, and I feel that the interest rates for those is a joke. I currently have an account with a credit union, and it's only slightly more. I feel that there has to be something better than these. We've even considered pooling our funds together, since we're family...we are thinking that more money would bring more options (and of course, result in better interest).
I would greatly appreciate some expert input and advice...thanks!