Question

Since Mother’s day is over do you immediately start a SF for Mother’s Day 2021 or write it on your calendar later in the year to start a SF for Mother’s day? It seems silly to start it now with it being a small amount. I could dream up and max out my SF’s now but at that rate I’m still not putting anything into savings.  

Answer 1

I always cashflow small holidays or else I would have a million envelops! Lol we do t spend slot on Mother’s Day, maybe $150 not including dinner, which would come out of our eating out budget anyways.  

Answer 2

With me it depends on how much I want for 2021. If say $100 I would start it 10 months before doing $10 a month so its not so noticeable in my budget but if its say $50 I would start 5 months before mother's day. I don't normally put any less than $10 a month into any one sinking fund I just work it out that way so I'm not dealing with smaller notes

Answer 3

Every month, we put $20 into a “parents day” sinking fund. On Mother’s day this year I bought my husbands Father’s Day gift. It helped to have the money in there already

Answer 4

For most sinking funds I immediately start back up once it’s over

Answer 5

I do sinking funds as they come up for the smaller ones. Like 100 a month goes towards sinking funds and they’ll go to whatever holiday is next.  

Answer 6

For most I start right back up.  

Answer 7

I have one “Holiday Fund” $20 a week is transferred to it. This is to cover all holidays/birthdays excluding my children, spouse & Christmas. I will purchase the gifts using my checking cushion and then transfer the $ over once I close out the budget for that week if I used anything. If it’s something really little I will sometimes just cash flow it from my flex spending categories and not transfer the money back. (I get paid weekly).  

Answer 8

New one already.  

Answer 9

I cash flowed it this year but I am going to start a gifts sinking fund to have money for the smaller holidays.  

Answer 10

I start the next one right after. I do a “parents” day envelope though since Mother’s Day and Farther’s Day are so close together. I think it also depends on how much you spend on them ‍♀️ I budget $300 to cover both of them so it’s worth it to me to start immediately and just have it saved. I also don’t mind having more envelopes though either

Answer 11

I am fairly new to TBM and am still building my main sinking funds. I am prioritizing things that I will need in the next few months and will work on the further out goals after the priority funds are fully funded. I would like to eventually be able to work on goals a year out.  

Answer 12

I have a constant deposit of a certain amount that gets put into a “Holiday” sinking fund each check. It will cover all holidays throughout the year. I keep a list of how much from the envelope goes to each holiday. That way it’s always the same each check. Makes it easier on me.  

Answer 13

I added up all holidays and birthdays throughout the year and what I plan on spending then divided by 12 so I have a sinking fund ready whenever something rolls around

Answer 14

I am going to start a SF for Mother’s Day and Father’s Day in July. I lost one of my streams of income due to COVID but it will start back up in June  which will allow me to add the extra sinking fund