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Since Mother’s day is over do you immediately...
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?
+14
votes
asked
May 13, 2020
by
haug
(
2.5k
points)
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.
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14
Answers
+5
votes
answered
May 13, 2020
by
victorious
(
7.5k
points)
Best answer
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.
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+6
votes
answered
May 13, 2020
by
sibell9189
(
490
points)
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
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+3
votes
answered
May 13, 2020
by
crinoid
(
1.5k
points)
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
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+10
votes
answered
May 13, 2020
by
carborundum
(
9.9k
points)
For most sinking funds I immediately start back up once it’s over
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+13
votes
answered
May 13, 2020
by
emanative
(
4.1k
points)
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.
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+4
votes
answered
May 13, 2020
by
grandiose
(
8.4k
points)
For most I start right back up.
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+14
votes
answered
May 13, 2020
by
slippage
(
1.3k
points)
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).
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+7
votes
answered
May 13, 2020
by
neff7098
(
2.1k
points)
New one already.
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+1
vote
answered
May 13, 2020
by
supramolecular
(
1.6k
points)
I cash flowed it this year but I am going to start a gifts sinking fund to have money for the smaller holidays.
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0
votes
answered
May 13, 2020
by
morie9359
(
370
points)
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
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+7
votes
answered
May 13, 2020
by
ponder
(
1.5k
points)
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.
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+4
votes
answered
May 13, 2020
by
iz5608
(
1.3k
points)
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.
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+1
vote
answered
May 13, 2020
by
casper
(
7.7k
points)
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
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+4
votes
answered
May 13, 2020
by
irma16
(
5k
points)
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
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