Question

I’m feeling a bit discouraged. My husband and I are working hard to save for sinking funds & EF so we won’t really be able to start paying off debt probably til the end of the year. Is anyone else in this same boat? We have a lot of exciting family things going on this year (my sister having a baby, brother getting married) so that comes with extra trips/funds. I know keeping up on sinking funds will keep us out of debt but sometimes I feel bummed that I can’t tackle my debt yet!  

Answer 1

We are doing the same thing. I am about to go on maternity leave and some of the time will be unpaid. I wanted to make sure I wasn’t stressed if I needed something while I’m off. The plan is once I go back to work I should be able to put more towards credit cards. This is also exactly why I appreciate this budget system. You make it work for you. So we’ve saved for a larger emergency fund and sinking fund first. I’ve been able to throw an extra 100-300 towards one of our credit cards, but a huge chunk is going to Sinking Funds each month.  

Comments

Yeah i'm putting everything extra towards sinking funds & EF right now! too many things to save for lol  we can do this!  

Answer 2

We have a $15000 expense coming up this summer, so we are throwing all extra money into savings in anticipation of that. You aren’t alone!  

Comments

@holcomb oh wow that’s a biggie! Yeah I’m traveling to CA so that’ll be like $2000 for that trip  

Answer 3

We’re actually focusing on paying off debt and working on EF and putting off sinking funds for a time when we can afford to do that.