I need to rethink the way that I save my money. I have all of my savings lumped into an ING account conveniently named "Fun in the Sun". However, I need to set up smaller accounts and have a certain amount necessary for each category - Gifts, Travel, Emergency Fund, Car Downpayment, etc. That way I will have an idea of exactly how close I am to reaching a goal and if I can afford something in a particular category.
Any suggestions on how to do this? Do you keep all your money in the ING account, but separate it in your budget spreadsheet or do you open separate ING accounts for every category?