[JoJoBean8]

$20 was added to our misc fund today.

 

[ddmartin]

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

 

[calimomx2]

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!

 

[Maine Girl]

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

 

[mauimagic]

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!!

 

[peanut]

Good idea to put extra money coming in that wasn't planned on towards sinking funds. I'll have to remember that!

 

[Ceashels]

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 wish I could take credit but it is a Dave Ramsey line. (His quotes tend to be used often in our home. lol)

 

[peanut]

here too Ceashels. I was looking at the "Financial Peace" CDs on my bookshelf and thinking it might be time to have another listen...

 

[qsaver704]

most years we spend our tax return. Wonder how much convincing it would take for me to get DH to save all/most of it......

 

[mauimagic]

Mahalo Ceashells - It may be from DR, but you're smart enough to adopt it!!

Qsaver - my first response to your question was "jsut do it!!" - okay - probably too flip, but you never know!! Please let us know what happens!!

 

[JoJoBean8]

We just started a baby fund. It's in a separate account then my misc. fund. Should I add that here as well?

 

[qsaver704]

We just started a baby fund. It's in a separate account then my misc. fund. Should I add that here as well?

baby fund is one of my sinking funds.

 

[peanut]

I'd say a baby fund is part of sinking funds. It's a long term savings plan.

 

[mauimagic]

I am just checking in to see what's new. On Monday I am going to make my first deposit to my sinking fund and am really excited!! It's an bank account I was going to close - has about $40 in it, instead I'll use that as a beginning stake to my sinking fund - a beginning bonus!!

 

[nic4549]

most years we spend our tax return. Wonder how much convincing it would take for me to get DH to save all/most of it......

We have always taken out tax returns and paid off debt with about 3/4 of it and save the other 1/4. We see it as extra money and a great time to get ahead. Without our tax returns, we would still be in a lot of debt and have virtually no savings. I think it is a wonderful idea to save at least 1/2 of your tax return. You will be thankful later. Trust me!!

 

[AP102209]

Mine will cover Christmas. Will be starting very slowly, as my main goal is my EF.

 

[qsaver704]

We have always taken out tax returns and paid off debt with about 3/4 of it and save the other 1/4. We see it as extra money and a great time to get ahead. Without our tax returns, we would still be in a lot of debt and have virtually no savings. I think it is a wonderful idea to save at least 1/2 of your tax return. You will be thankful later. Trust me!!

In the past we have done the same thing. This year we THANKFULLY don't have any debt. DH wants a TV (wanted at Christmas and I said no). We have money saved for this, though. I hope getting him the tv is good enough and we can save the rest (esp. since one of my sinking/planning funds is a baby fund!)

 

[peanut]

I think DH is impressed with my new found interest in frugality. I normally have a little stitched journal I buy every month for a brief diary I keep...not much...just a recap of where I've been with who and, if interesting, what was discussed.

I've decided this year not to buy the journal. It's gone up in price and is $6CAD/mth. Much cheaper just to put looseleaf pages in a binder and go for it.

The only problem will be when we travel. I like the little notebooks because they easily fit in my luggage. Oh well...will just use them for that then...

DH laughed at me and commented it wouldn't save me much. I told him $72CAD was $72 we didn't have the way I was going before! He just grinned.

 

[calimomx2]

Dh decided to add something else into the sinking funds.......besides painting the house and Christmas he wants to put in a whole house fan. It is pricey and probably won't happen this year! I know in the long run it will save us on our electric bill so eventually it will be worth it!

 

[peanut]

I'm sorting through grocery receipts today to see how much I can cut back our food budget to transfer into our sinking fund.