Is it better to have one large emergency fund or multiple smaller ones?

It is generally better to have one large emergency fund rather than multiple smaller ones, as this provides more flexibility and allows you to handle unexpected expenses more easily. With one large emergency fund, you can more easily track how much you have available and avoid the risk of spreading your resources too thin across multiple accounts. Additionally, having one large emergency fund can help you avoid the temptation to dip into your savings for nonemergency expenses. However, if you have multiple specific goals or financial obligations, it may be beneficial to create additional savings accounts to keep track of each goal separately.