In past years, I have used one large sinking fund nicknamed "CurveBall" for all irregular expenses. I have wondered if multiple dedicated sinking funds might work better for me. I decided to give them a try in 2018.
So, I played around with categories which would be useful for me and appropriate monthly deposit amounts. Since September, I have been making deposits each month. Starting now, I will use them as expenses arise and need to be paid.
Here is what I am depositing monthly:
Car Ins & Reg - $100
Car Repairs & Maint - $75
Clothing - $40
Electronic Gadgets - $30
Gifts & Xmas - $70
Planners & Goodies - $15
Travel/Vacation - $200
Total: $530
Additionally, I opened (with $1) sinking funds for car replacement and my Roth IRA. I expect to utilize them in the near future, so went ahead and opened them while I was merrily opening new accounts.
Sinking Funds for 2018
January 2nd, 2018 at 08:10 pm
January 2nd, 2018 at 08:34 pm 1514925254
January 2nd, 2018 at 08:44 pm 1514925853
January 4th, 2018 at 04:02 am 1515038579