2010 Sinking Fund Challenge - Page 3
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  1. #31
    Moderator mauimagic's Avatar
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    Well, there is still 4 1/2 hours left of 2009 here, so I still have time to pull out the insurance receipts and figure out what our sinking fund should/will be for 2010. I shall return!!..before 2010!!

  2. #32
    Moderator mauimagic's Avatar
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    Okay - I would like my sinking fund to cover:

    Life ins.
    HO ins.
    Umbrella Ins.
    Car ins.
    Alaskan cruise

    The total need for the above is $8400.
    I will need to put $350 twice monthly.

    Now I need to figure out how I am goiong to do it!!
    I have a goal and I will fund it!!

  3. #33
    Registered User Surilda's Avatar
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    You go, Maui!

    That Alaskan Cruise should give you ALOT of motivation!

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  5. #34
    Moderator mauimagic's Avatar
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    That's what I am planning/hoping Surilda!!

    DH was just talaking with a friend from San Francisco and started me thinking that maybe we could swing by there to for a short visit before or after our cruise!!! I'm often accused of overplanning!!

    Happy New Year and may all our dreams come true!!

  6. #35
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    We have a few things we are focusing on this year....

    Christmas
    painting the house
    front yard redo

    Not sure about amounts yet, we are still crunching numbers!

  7. #36
    Moderator mauimagic's Avatar
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    Calimom - nice variety of goals there!! Looking forward to seeing how much painting the house will be. Will you do it yourselves or hire someone?

  8. #37
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    Quote Originally Posted by mauimagic View Post
    Calimom - nice variety of goals there!! Looking forward to seeing how much painting the house will be. Will you do it yourselves or hire someone?
    Dh thinks we should do it ourselves but then it might be next year or the year after before it gets done! I think we will get a few quotes and see where we go from there!

  9. #38
    Moderator mauimagic's Avatar
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    Good thinking calimom!! What colors are you thinking of using?

  10. #39
    Registered User Surilda's Avatar
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    Ok, I transferred money today to my third account and
    started my sinking fund with $10.00. I will be adding to
    that weekly and some weeks I can put more in than that.
    It would have been more than $10 if I had not had to miss
    work the last two days.

    For now, my EF money is also going into the third account
    and I am keeping track of how much for each fund on
    Excel forms.

    I am trying to decide whether to open a fourth account,
    or open an ING account for just my EF fund. I will
    definitely want to wait until I have more than $34.00...lol

    It just feels great to get started, even if it is only $10.00!

  11. #40
    Moderator Ceashels's Avatar
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    Default estimated goals:

    Disney 0/1,600
    Window Replacement/Home Repair 0/2,500

    Thankfully for Disney, we already have the hotel/park passes in the bank and air fare has already been paid. At least it will not be a vacation that follows us home. We also have over estimated the cost of the windows but better safe than sorry. We expect our tax return to help fund both of these but they will still take focus.

  12. #41
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    $20 was added to our misc fund today.

  13. #42
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    We have 2 funds -
    Vacation Fund - This is really a 'go and visit the grandchildren' fund
    Christmas Fund - I WILL BE PREPARED FOR NEXT YEAR

  14. #43
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    Quote Originally Posted by mauimagic View Post
    Good thinking calimom!! What colors are you thinking of using?
    That's going to be a tough decision! Dh and I aren't really agreeing on a color so far and we need to! The house is brown with brick and I would love to go lighter!

    We have an account through dh's work that automatically takes out $100 each pay period (so $200 month, we are paid 2 times a month) and we sat down and decided that would be our sinking fund account! I'll add money in a different savings account when and where I can!

  15. #44
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    For my sinking fund i am looking for around $400.00 this year
    i will start with $25.00

  16. #45
    Moderator mauimagic's Avatar
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    Love all this commitment!!

    Surilda, what's wrong with opening an account ith $34? sounds good to me - you're 1/3 of the way to $100 already!!

    Ceashells - I love your wording and idea ...."At least it will not be a vacation that follows us home." Great downchunking to be ready for your vacation too!!

    I am going to put any Christmas/birthday/any gift monies into our Sinking fund - since you never know what life is going to throw your way!!....and I really want this to be successful!!

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