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How Dividing Your Savings Can Help You Reach Your Goals Splitting your money into a multiple, targeted savings accounts can help you see budgeting benchmarks more clearly.

By J.D. Roth

Opinions expressed by Entrepreneur contributors are their own.

How Dividing Your Savings Can Help You Reach Your Goals
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If you're like most people, you work toward several financial goals simultaneously, yet you keep all your money clumped into a single savings account. But this approach can have some drawbacks. Among them, a single account makes it difficult to track how much is earmarked for each particular purpose, or whether it might make sense at any time to "plunder" the savings for one goal in favor of another.

That's why I started a targeted saving plan. With an online high-yield savings account (such as those listed at, I've split my money into several subaccounts, each named for a specific savings goal. Mine include:

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