Question

SINKING FUNDS QUESTION.  Ugh I’m having a hard time of evenly adding money into my sinking funds.SINKING FUNDS QUESTION. Ugh I’m having a hard time of evenly adding money into my sinking funds. I’m a server so my tips are a little all over the place. For some reason though instead of splitting them up, I’m continuously putting it all into one envelope until the goal is reached. However, it leaves my other sinking funds either empty or very little in them and when I need to use them the money is not there. I know I struggle with this but can’t seem to make myself add to other envelopes. How can I fix this mentality?!  

Answer 1

What are your funds? Id suggest combining your funds. I used to separate holidays out but now I just lump them together. I only have 4 funds now Holidays/Celebrations Car maintenance Yearly subscriptions Miscellaneous

Answer 2

Why don’t you choose the next 3 or 4 that are coming up and concentrate on only them. Work out how much per week/month you need to meet your target and stick to that, then when one is full add another 1 or 2 on.  

Answer 3

Calculate how much you need to add monthly to meet your goal by the date you need it. Then split it up based on that