NEW SINKING FUND SET UP & GOALS || JANUARY 2024

In this video I take you through my sinking funds spreadsheet to show you what we are saving for in our budget. Sinking funds are funds that should grow overtime to help you meet your savings goals. I hope you enjoy the video. Thanks for watching!

#sinkingfunds #budgeting #debtfreecommunity

[savewithalicia]

I love that you are setting some goals for your sinking funds. Can’t wait to see you hit your goals!

[OneFrugalIntrovert]

TikTok, Asana, Peleton, Aerie, Acura, Bitlmore, Stitch Fix ads.

I like the addition of the new columns. Most of my sinking funds are revolving. Happy New Year, Katie! 💜

[authenticallyallison]

Hey Katie. I'm all for the goals column. I definitely think it is a great tool to use to gauge your progress and make sure you are keeping your focus in certain areas.

[BrittanyFlammer]

Thanks for sharing! I feel like most of our sinking funds are revolving funds. I love Ally and SoFi for them so I can keep them separate, but transfer around if I need to. Good luck with t hem this year!

[CashBearMama]

I condensed my sinking funds to 11. Great video 🎉 I love Christmas 🎄too! My favorite holiday 💚🤗🕊️

[ProsperousBudgets]

Love that you added the goal section. Great idea. I always feel lost when I start adding money from sinking funds and get overwhelmed but this makes it more clear for me. I want to start doing this too this year.

[budgetlifewithpaula]

I have both revolving sinking funds and “dated” sinking funds. This year my plan to accomplish or fully fund my sinking funds but doing them a few at a time.😊💖🌸🌺

[summerjoy]

I feel like I need a sinking fund called December lol There’s so many plays, events, and things other than gifts.

[izzybreezybudgets]

Great goals & great new set up! Happy new year

[poderosafinances]

loving the new spread sheet and goals column Katie

[stefsonabudget]

Goals are always good in my opinion Katie! I need to organize some for myself on the sinking funds for this year!

[debratakagawa]

The extra columns are great. I’m doing something similar. Good luck and happy new year!

[edgimosanimations]

4k for Christmas I wish I could. Average Christmas for me is like 500 total and that’s like the entire family. Y’all are very fortunate.

[gentlecharmbudgets]

Oh yes goals are a great idea so you can tell if you need to plan for more or you can stop and move on to something else.

[azbudgets]

Happy New Year!! 🎆🎆💙💙 These are amazing goals, I love this spread sheet so much!!😊😊

[OrdinaryEverydays]

I love that perspective on the new year! I am working on my January budget reset and this is making me excited about setting up some designated sinking funds!

[toyastlife]

Hey katie! Most of my sinking funds are revolving. The ones that aren’t some are considered savings in my eyes. Thats a good idea katie for family.

[deeplansandbudgets]

All of my sinking funds are revolving but some are needed and others less so. I like your interpretation of sinking funds for saving for certain things. Now you have me thinking. I have extra this year due to a lower max out of pocket and I do not want to just save it, so maybe come up with some specific funds for it. I must think on this. Katie, I am one of the biggest Grinch's and even I think that a person can spend whatever they want on Christmas. You are doing the right thing to save a realistic budget.

[nicolethomas]

These year my goal is all about health i want to get weight loss surgery, get my teeth done, try to get Lasik, i know its not a good way to pay for those but all my money i earn these year will go to all these goals but i will still have money to do saving challenges and saving for going back to college

[InTheBlack]

I love what you said about Christmas, I feel the same too. But if we ever had to cut back, that would definitely be a category that would take a hit. Happy New Year to you and your family!