So I'm 25, have a wife and a 3 yr old daughter, and I've spent some time making myself reasonably happy with my knowledge of retirement savings options as well as educational savings options for my daughters future. The two issues seem to be very similar (both long term oriented for me, various IRA options, tax deferred or exempt goals, determining the level of diversification for security and risk for growth potential) with only a limited amount of different factors and options that I believe I've got at least a handle on.
Short term savings however seem to be an altogether different question. Government bills/notes, Money Market Deposits/Funds, various bond options, CDs, I shutter to think of how long I could spend reading computer screens worth of descriptions, Pros/Cons, opinions and options. I've read some general guides as to how to calculate what short-term savings needs and I've got a list of the general pro's and con's of what appear to be most of the options but I'm not close to being secure in my understanding of most of these, nor could I make a decision right now as to where to go with how much.
I know that some people see "financial" questions as more personal than even "bedroom issues" at times but there appear to be a good number of ... lets just say "out of your 20s" folks here. Does anyone have any experience with short term savings, understanding, or preferences they'd be willing to share?