I have read through some personal budgeting articles and saving tips. Most articles and books mention saving money for emergency funds, large purchases, etc.
Should emergency funds and saving funds (eg. money for buying a house) be in the same savings account?
Or, should each specific saving plan be set up in a separate savings account?
If held in one savings account, how can I easily manage what percentage is planned for which purpose?
If the funds are not held in one savings account, would the interest earned be less because they are spread across multiple savings accounts?
I found some interesting information. I hope this is related to my question.
For people in Singapore, OCBC offers interesting banking account to for people like me allowing to create multiple saving goals with FRANK Account. you can find more information on this. I,myself don't have a FRANK Account yet because need to check more this. Hope this info will be a help.