How to Set Up Sinking Funds in EveryDollar

What are funds? (And how in the world do they work?) How do you set them up in EveryDollar?

Here’s the bottom line: It’s all about saving for the right things! Rachel Cruze will show you how to set up your emergency fund and sinking funds for other savings goals (like Christmas and vacations).

[kh]

Ok I have sinking funds set up in Everydollar for tracking savings for furniture expenses. However my question is this: when it's time to tap into that fund, how should I book that transaction in Everydollar? Many thanks!

[ewright]

Why does my remaining to be spent show less than what's left to spend? Thanks

[ew]

Once I set-up a sinking fund to I have to add a cash transaction to show that I've banked it? Or, when I set it up, is the amount automatically considered "spent"?

[fatgamerjaf]

How do i edit the emergency fund? I try to update the balance but it just adds to the current amount.

[jontorr]

I’m new to the free app. I don’t know how to handle my existing checking at the beginning and end of the month… I’ve added my beginning checking account balance as income, and the ending checking balance as a fund…
Am I doing this right?

[LCmonman]

There are an couple of problems with the funds feature: they don’t allow a forward time setting, say a year from now. And they show as money left to budget, so I never effectively have a zero based budget anymore. Would love some fixes for these please!

[DucksHockeyMe]

When setting up a fund, do you use the amount saved or spent in the planned column of the budget?

[elizabethcoen]

Will Every Dollar allow you to add a credit amount (say extra budget item) to a sinking fund? Say your water bill was less than what you budgeted, can you move that extra to a sinking fund?

[TheWeapon]

How do you track your transactions related to sinking funds? The problem is that the planned amount affects your sinking fund balance in addition to whatever transaction you attach to the sinking fund.