Setting Up Sinking Funds
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- čas přidán 22. 07. 2024
- Hey Guys! In today's video I'm setting up my sinking funds for 2021. I have decided to set up my sinking funds three different ways in 2021. I wanted to walk you through the different ways that I have decided to save and how Im going to keep track of them. How are you saving for sinking funds this year?
Chapters:
0:00 - Introduction
0:34 - What are sinking funds?
1:04 - 1st way to save for sinking funds
3:00 - 2nd way to save for sinking funds
7:22 - The difference between the 1st way of saving & the 2nd way of saving
8:43 - 3rd way to save for sinking funds
11:13 - setting up cash envelopes
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alaina@theorganizedmoney.com
ABOUT ME
I’m Alaina.
I’m an author, speaker, financial educator, Etsy shop owner and CZcamsr. I love to share videos on organizing your money, mind, and life.
What else?! I am a wife and mother of 2 girls. I love reading and planning! I hope my videos help you on your financial journey.
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@theorganizedmoney
Hey Guys! In today's video I'm setting up my sinking funds for 2021. I have decided to set up my sinking funds three different ways in 2021. I wanted to walk you through the different ways that I have decided to save and how Im going to keep track of them. How are you saving for sinking funds this year?
I love your approach. I wish I could describe how much peace has come into my life after I went through an extreme frugal period in order to get out of paycheck-to-paycheck chaos. Now I already have the next 2 months of bills & groceries already "pre-paid".
Hope the people watching this find their own peace and grace, too!
Love this!!!
totally unrelated, but your voice reminds me so much of that kind of teacher in elementary school who everyone loved!
I was just going to say this!!!
Thank you for the idea. I have already prepared sinking fund for my birthday and Christmas after seeing your videos. My birthday is right after Christmas and we have a tradition of going out on dinner on that day. Last birthday I realized that it's putting a lot of burden for me in every December, that's why I decided to start making sinking fund for my birthday and Christmas.
I'm considering making sinking fund for my clothing too after watching this. Thank you for the video ❤️ Keep blessing us with your ideas. Stay healthy and safe.
Your channel is brilliant in every regard. All the information is useful, well thought out, perfectly presented and explained. I am older so my finances are in order but I am still picking up better ways of doing things here and there. I wish your videos were around in my 20s and 30s.
First time to your channel and I have to say I love how you explained everything! Definitely going to set my own sinking funds up similarly!
This is exactly what I needed to see. Thank you.
I am really considering doing the cash envelopes. I normally just use my accounts to keep track of sinking funds, but I think the cash may be a good option. 💕 Looking forward to your vlog!
I love your system, it's very similar to mine. Thanks for sharing these updates!
Awwwww I really enjoyed your video and welcome to the stuffing envelope side. I like your wallet. I look forward to seeing more videos. Have a good day😊!
This was so helpful to me. I am now working on this.
This was very helpful. Thank you!
Awesome information. Thank you
This is so great! I really really like the wallet to put the cash in. I gotta get that 👍🏽
Thanks for all you do❤
Me: actively watching all this content and loving it.
Also me: haha what’s savings ?? 🥲
Can’t wait for the vlog channel. You are super inspiring ☺️
Thank you so much great idea
I love this system! I'm trying to save for a car!
4:10 That's awesome that you mentioned tithing.
Love this
This is so very helpful. Thank you.
Hello!👋👋 I also plan ahead on my sinking funds on expenses I already know I will be having. See you soon!😉🌸💛
How did you determine the amounts for each cash category? Do you put cash in weekly?
I love this. We do ours the same 😊 with a few differences. We both spend money so on paydays I move our everyday expenses (groceries, house, gas, entertainment, misc etc) into another checking we both have a card to and I use the Goodbudgets app to track our difference envelopes. And then my cash sinking funds are my personal sinking funds (salon, face/hair products, personal money)
I love a good sinking fund 😊
Question though, for things like car maintenance (tags, oil change, tires etc) that doesn’t cost thousands do you cash flow them or do you take them out of your pot of repair money?
I like this system. I get paid once a month. Do you have any videos on how to do this monthly?
How do you determine the amounts you are saving each week for your sinking funds?
Hello, I have a question about the app. Is this automatically payments? Maybe I want to put no money in one of the accounts one week, is that possible?
How do you know when to add cash (and how much) to your cash sinking funds? That’s where I get stuck. I never know how to keep adding money.. if that makes sense.
Does qapital have any fees? I have used it in the past but I don't remember if that was the reason I left. Very helpful video thx!
Hey! Yes. It depends on what level you pick but I believe it starts at $3 per month
you have such beautiful hands!!!!
You should look into becoming a Life coach ,you would be great at that for side money
Where did you purchase your pen?
Hey! It’s the Papermate ink joy 0.7 pen you can find it almost anywhere. I purchased my set from Amazon
I didn’t realize that there is a few to use this app after 30 days. Are the ones u would suggest that do not have a fee? I started using the app and when I started etting up the rules, the fee came up. Is this fee for each fund account you set up or for your whole account no matter how funds you have?
Hey! Yes. It's a monthly fee of $6. I don't know of any savings apps that don't charge a fee but it's only the one fee (they only charge the whole account - not per fund)
Try Dobot
@@TheOrganizedMoney thank you!
@@FineNaturalHairandFaith 👌🏾
ugh I have a friend whose parents were heavy church goers then one day they were NOT ALLOWED to go to their sons wedding in the temple (latter day saints) because they we're not quite kept up with their tithe payments, (and they usually we're just not at this time) , after this they we're so dismayed and disgusted they left the church all together, I mean you do do, but anyone who pays tithe is being swinddled and ripped off but a church that gets rich from it's paritioners. God doesn't ask for your money.