How do you use your Money Market Account? Do you employ it as a working account – a tool you use to fund your daily financial needs? Or do you put it to work as a vehicle to grow your savings long term? Maybe you use it as a combination of the two?

When it comes to Money Market Accounts, there may be just as many uses as there are account holders. Think of a Money Market Account as a hybrid between a savings account and a checking account. It pays interest just like a savings account but also gives you debit card access and limited check-writing privileges. You get a combination of the Ally Online Savings Account and the Ally Interest Checking Account – the best of both worlds.

To help give you a picture of a Money Market Account’s broad potential, we reached out to some personal finance bloggers and asked, “How are you using your Money Market Account?” Here are their answers:

David Ning: Founder, Money Ning

“I love my Money Market Account, because I can still earn relatively high interest while having the ability to pay my bills via a check. I hate needing to remember to pay bills on their due date, so I try to take care of them when the statements come. But I also want to take advantage of earning a bit more interest by waiting until the last minute to pay. That’s why I treat my MMA as an intermediary payment center for the six bills with the highest payment amounts. Whenever I receive those bills, I deposit the corresponding amount into my MMA. And since I set up everything so that the companies will automatically deduct what’s owed to them on the due date, I pocket the interest in the meantime.

Andrew Schrage: Co-owner, Money Crashers

 “I use my Money Market Account for my emergency fund. It gives me a slightly better rate of interest – about 0.5 percent – than a traditional savings account. And since it’s money that I don’t need regular access to, the withdrawal restrictions (6 per month) aren’t an issue for me. My only goal really with my Money Market Account is that all of the money that I have is earning the highest interest rate possible, even for funds that I may need access to on short notice.”

Greg Go: cofounder, Wise Bread

“I use my Money Market Account as an emergency fund and savings booster. It earns interest but is still liquid. I make an automatic transfer every month after payday, so it’s effortless to save. When the account gets too big, I’ll transfer some money to my long-term savings accounts (like mutual funds).”
Meanwhile, on Facebook and Twitter, we asked you, our community: What are you using your Money Market Account to save for? Here’s what some of you said:

“My first home. Yay!” — Pura Jackson

“To start a business.” — Charlotte Lafont Aguilar

“Down payment on a home.” — Christopher Gilreath

 “Our new home, currently under construction.” — Rebecca Hall

How do you put your Money Market Account to work? What determines whether you’ll deposit money to an Money Market Account as opposed to some other kind of savings account?