![]() Your sinking funds will then need to be added to your budget. If you are serious about using sinking funds to eliminate the stress of those infrequent expected expenses sabotaging your budget, you should definitely be using a monthly budget. How much you need to save per month to have your fund completed in time.How many months you have until the fund will be needed.The total amount you will need when the expense comes up.When you decide what your sinking funds will be, you will then figure out: You do not have to have the download for this to be successful. You can find that at the bottom of this post. I recommend downloading our super helpful (& FREE) Sinking Funds Tracking Sheet to follow step-by-step every month. Now, if you are all set with your sinking funds, meaning you know what they are, you have your categories ready, and you know exactly how much you need to save each month, it is time to get rolling!! If you are thinking, “What is this girl talking about?!” Then you need to start with: 5 Reasons You Need Sinking Funds 13 Sinking Funds Categories You Need in Your Budget How to Effectively Use Sinking Funds Guess, what?! There is a super easy (and fun!) way to keep track of your sinking funds to ensure you are just killing it month after month. Now, what? How do you track sinking funds to make sure you are making progress and staying on target? It’s called the Easy Budget and Financial Planning Spreadsheet for Busy Familiesand it’s basically what I live and breathe by with making financial decisions quickly and easily for our family.So, you have heard all the buzz about sinking funds and you have decided to start using them. I recently put together the system I use to manage our family finances in Google Sheets. Being organized from month to month considerably cuts back on the time you need to spend paying bills, a perfect solution for busy families! One of the biggest drawbacks to a paper budget is that it’s hard to project out expenses and have a solid understanding of where you sit financially.įor example, if you project out all your expenses for a year and in the middle of the year an unexpected expense hits, do you know where that will leave you the rest of the year? You may have an idea, but we know that unexpected expenses come up a lot so why not have a way to project out your cash flow and understand your finances better?Ĭash projections help you to plan better, save more, and spend less time in your finances. 1′, 1/ 1/2″, 2′, 3′, 4′ inch spine optionsĭOWNLOAD YOUR FREE PRINTABLE BUDGET PLANNER NOWįamily Budget Spreadsheet and Cash ProjectionsĪs a working mom, I know a lot of my readers live in a digital world and would rather track their budgets paperless.Monthly savings tracker (set your goals!). ![]()
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