Thanks for sharing! I started contributing to my sinking funds today. I have two jobs and I get paid weekly from the second job and bi-weekly from the main job. I have 8 categories and will put $5.00 into each category each payday. So that's $40 from every check going into the funds. My categories are holidays (gifts, thanksgiving and Christmas dinners), travel, car upkeep, house, birthdays, workout, my goddaughter's graduation, and black Friday. 😀
Hi! new subbie here. I'm loving your sinking fund system. It never crossed my mind to plan out for the entire year at the beginning of the year. I'm loving this and trust and believe I will be putting it to good use. . . .I'm currently saving for a used car so I just been putting money aside as if I have a car note... keep up the good work....tfs
Thanks for sharing, even if you're not using them this year! My sinking funds this year include Christmas (gifts, stationary, etc.), car registration, and travel. I should be adding car maintenance as well.
I'm curious if you are using the sinking funds in 2018 or if you have found something else. I love your channel!! All your budgeting and planning is exciting!!
Love this. Currently I have no sinking funds in place but instead have a savings(separate from emergency account) that I keep funded for minor expenses that come up so it somewhat acts like a sinking fund. Considered breaking it down more into separate categories but not sure.. I don't know if it's really nessesary for us. Great video, thanks for sharing it!
Everyday Home Life I'm kinda the same way, I don't think I'd be able to keep track of all the different funds I'd need, I just put it all in one savings at this point since I don't have a fully funded emergency. I love to see and hear about how different people adapt budgeting to their own situation.
Amy McGrath it's really beneficial for saving on big items such as Christmas gifts, auto purchases, mattress... things that you wouldn't want to just dish out in one months worth of paychecks. It also keeps you from using a cc which puts you back in a debt situation. Which is why dave Ramsey uses this method. :)
Do you ever (or maybe you do) plan to have a separate Doyle Dog Emergency Fund, since he has medical issues? I have a diabetic Dachshund that will be 11, and that's what I've tried to do. In the last year, she's been hospitalized 4 times. Two years ago, when she was diagnosed, the emergency vet handed me a $3,000 estimated bill to care for her for 3 nights. And informed me that if she was still sick, and she probably would be, I would have to transfer her to her regular vet.
Tiffany Harris I have thought of that but if Doyle ever got sick where it would be over $1000 I would use my emergency fund. Because I treat my dog like my kid (I am childless) and that is a medical emergency. Hopefully your little fur baby gets better soon
Love your videos! Just one question...if this all goes into one savings account (instead of like 12 separate accounts), when you DO withdraw fro your savings, how do you track each category? Manually in your notebook?
Colleen Leonard for another perspective, I use envelopes for sinking funds so that's easy to track in my opinion and writing it out as an in and out accounting method each month.
Thanks for sharing! I started contributing to my sinking funds today. I have two jobs and I get paid weekly from the second job and bi-weekly from the main job. I have 8 categories and will put $5.00 into each category each payday. So that's $40 from every check going into the funds. My categories are holidays (gifts, thanksgiving and Christmas dinners), travel, car upkeep, house, birthdays, workout, my goddaughter's graduation, and black Friday. 😀
Hi! new subbie here. I'm loving your sinking fund system. It never crossed my mind to plan out for the entire year at the beginning of the year. I'm loving this and trust and believe I will be putting it to good use. . . .I'm currently saving for a used car so I just been putting money aside as if I have a car note... keep up the good work....tfs
ah so motivating. I'll be setting this up tonight in my planner
Thanks for making this video and linking all of the products. Definitely makes it easier for us to buy 👍
Can't wait to see your next video
Thanks for sharing, even if you're not using them this year! My sinking funds this year include Christmas (gifts, stationary, etc.), car registration, and travel. I should be adding car maintenance as well.
💜I love your penmanship!!!✍
I have been enjoying your videos! Happy new house goal!!! 🖒
Such a great way to save money! Also, love your handwriting! :)
I noticed her handwriting too! Super neat!
I'm curious if you are using the sinking funds in 2018 or if you have found something else. I love your channel!! All your budgeting and planning is exciting!!
Looks like a good plan
this is super helpful! thank you
This is a job I need to do. Good video x
So helpful, thank you!!
Love this. Currently I have no sinking funds in place but instead have a savings(separate from emergency account) that I keep funded for minor expenses that come up so it somewhat acts like a sinking fund. Considered breaking it down more into separate categories but not sure.. I don't know if it's really nessesary for us. Great video, thanks for sharing it!
Everyday Home Life I'm kinda the same way, I don't think I'd be able to keep track of all the different funds I'd need, I just put it all in one savings at this point since I don't have a fully funded emergency. I love to see and hear about how different people adapt budgeting to their own situation.
I really miss the everyday vlogs.... I know it was a lot of work but maybe tue thurs n weekend vlogs to go w your normal mon wed fri videos 😬
Paula Tice I will be vlogging this upcoming weekend so you will have a vlog soon enough. Stay tuned
Awesome!!!!!
Hi Emily! Are you going to do a 2018 Sinking Funds?
Thank You for this !!!!
This is a good idea, but I tend to take each month at a time.
Amy McGrath it's really beneficial for saving on big items such as Christmas gifts, auto purchases, mattress... things that you wouldn't want to just dish out in one months worth of paychecks. It also keeps you from using a cc which puts you back in a debt situation. Which is why dave Ramsey uses this method. :)
What size is your notebook? The 7x9 or 8x11?
7x9
what bank do you use for a sinking funds?
Do you ever (or maybe you do) plan to have a separate Doyle Dog Emergency Fund, since he has medical issues?
I have a diabetic Dachshund that will be 11, and that's what I've tried to do. In the last year, she's been hospitalized 4 times. Two years ago, when she was diagnosed, the emergency vet handed me a $3,000 estimated bill to care for her for 3 nights. And informed me that if she was still sick, and she probably would be, I would have to transfer her to her regular vet.
Tiffany Harris I have thought of that but if Doyle ever got sick where it would be over $1000 I would use my emergency fund. Because I treat my dog like my kid (I am childless) and that is a medical emergency. Hopefully your little fur baby gets better soon
dumb question: where do you keep the money or track it?
I would put it in a separate savings account
I second the question. Do you just track it on paper or use a separate bank account? I'd never be able to keep it in my head.
If i was using a sinking funds right now I would track it on paper as well as transfer the money into a savings account
What pen are you using? And I love your handwriting!!
Julie Cogar the pen I'm using is linked in the description box. Paper mate gel pen
Will car insurance be in a sinking fund?
Joy A not for me. I pay mine monthly. But if you pay your quarterly, bi annually or annually I would do that.
Love your videos! Just one question...if this all goes into one savings account (instead of like 12 separate accounts), when you DO withdraw fro your savings, how do you track each category? Manually in your notebook?
If I were using this system, I would track it manually in my notebook
Colleen Leonard for another perspective, I use envelopes for sinking funds so that's easy to track in my opinion and writing it out as an in and out accounting method each month.