We all know that you need an Emergency account for emergencies.
We also know that you need a Savings account for sort or long term goals.
Then you need a Retirement account (IRA and/or 401k) for when you retire.
My question is how many accounts are to many accounts? How do you keep track of it all?
Is your Emergency account and your Savings account the same account or two separate accounts?
How do you fund these accounts? Is it done simultaneously or do you fully fund one then fund another?
If you want to save to buy a car do you save in your savings account or do you open a Car account?
My head is spinning, can someone simplify all of this for me?