An easier way to do it if you don’t want to use cash. Add up all your sinking funds, divide by 12, save that much per month. Then the month you need that specific SF, transfer it out of the savings. But your monthly SF amount you save doesn’t change ever. I think it helps even out monthly spendings
It is easier, but a lot of us like coloring it is soothing. I told my DD the other day when she said" mom just move money over" & I said" years ago I lived paycheck to paycheck, by doing savings challenges & sinking funds I debt free & have more money than I ever thought possible. I like telling my $ where to go it's great🎉🎉❤❤
@@t.m.3769I disagree. If I had that much money sitting in my account my ADHD desire to chase the dopamine would encourage me to spend said money. Cash I can keep out of my own sight, out of mind
Can you explain again how to determine the value of each icon for your goal sheets? I love your visuals!!!! It's fun to color in the charts to see ones progress!
I have car licence due in January 25 $250 hope it hasn’t gone up I been saving 4 years this is the 5 th year Putting $2 a fortnight then $3 and so on I have about $70 left I’m on low income it’s hard to hand over $250 in one hit I’m in QLD Australia I’m also saving for a phone and I just brought a 1 pad that I saved for as this one keeps over heating and won’t keep charge in
Thank you for sharing. I have been using sinking funds for 3 years and when a holiday comes around it is great to have the cash. Sometimes I do save more than planned which is even better.❤❤
I print several things like the shopping list from TBM in A5 and I like how they turn out. I do not downsize though. What I do: - Open the PDF file in Adobe Acrobat Reader - Select print - Choose multiple - It should say 2x1 in pages per sheet (that's for an A4 sheet) You might need to adjust orientarion I've got the german version of Adobe, so it might not be exactly the same in a version in another language.
I do very little with actual cash. It feels safer to me to not have it at home AND makes it that much harder to spend it if I'm tempted or feeling short on something else. However, I definitely have little trackers for each fund, so I can see it going up, even if I can't see the actual cash piling up. I've experimented with prop money/place holders, too, but it really is the colored in boxes/icons that feels great.
Just curious how you come up to the amount to save for each fund?? Like why $8 for Valentine’s Day? How do you determine the amount for each? Is it the same amount each month?
I started this with my husband in different bank accounts for Christmas and he loved, so this year we are making for all birthday, holidays, Christmas, everything, and we are having 2 holidays, its the best thing ever.
I know this should be easy, but can you talk about how you get those sheets to fit in your binder? The details of the product say the sheets are made for 8.5X11 paper
How do you track if you need to spend cash out of the envelope before you reach the total goal amount? For example, if I’m saving $100 for my boys birthday and see a gift I want to get him before I reach the total goal, how do I track that deduction?
No refund policy for her New 100 day envelope system in a box. Too small of envelopes to fit larger amounts and they are not laminated so the durability is questionable. I will always love and recommend her newsletters, system and the "Budget by Paycheck". I have bought one for a Christmas gift and my daughter's birthday gift.
Good morning. Great video. Question- So I have multiple savings goals like you do that I save a little bit for every paycheck. I usually have money left over after bills, 401k, sinking funds that I just put in a category called unassigned savings. It’s hard assigning it to something. Any suggestions on maybe a different way I can do mine? I was thinking maybe instead of taking 12 months to save a little for all my my SFs to just fully fund each one as I go and move on to the next. Not sure what to do with the extra money in unassigned.
Love this video. Thank you. Is it because you need easy accessibility for your property taxes that you haven't been saving that in a high yield savings account? You would have made about $10 - $40 a month in interest over the past 4 years since you bought your house. It's a nice little chunk. I've just always wondered? Simplicity?
Saving is important, but also Most people miss it but the secret to living and retiring comfortably is finding a way to make returns while your money works for you.
No doubt being financially free and not having to worry much about housing crisis, health care and other expenses cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential.
the problem is that most don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
It's crucial for individuals to diversify their portfolios, seek professional financial advice, and stay informed about market trends to navigate these challenges effectively.
Yeah No doubt being financially free and not having to worry much about health care and other expenses cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential.
You need to get a financial planner to aid diversify your portfolio to commodities index funds, digital assets etc, to provide illumination and guidance in the financial markets.
I have a dumb question. I bought the saving trackers and envelopes. Also the binder. How do you make the trackers smaller so it will fit in the binder.
Not sure what issues that you are having, but try this in your printer settings. Change the paper size for your trackers to the desired size and then select "FIT" on the print screen. You probably don't want to print the envelopes very much smaller or the money won't fit.
There is no such thing as a dumb question! :) Up above @berneserainbow1407 said the following (and it worked for me) "I print several things like the shopping list from TBM in A5 and I like how they turn out. I do not downsize though. What I do: - Open the PDF file in Adobe Acrobat Reader - Select print - Choose multiple - It should say 2x1 in pages per sheet (that's for an A4 sheet) You might need to adjust orientation I've got the german version of Adobe, so it might not be exactly the same in a version in another language." Hope that helps. Cheers.😊
So, how does one go from "planning on buying a house with cash" in 2019 to buying a home in January of 2020? I've got an uneasy feeling doing some of the math in your videos. Anyone care to enlighten me?
1. She uses a fake budget for educational purposes or 2 the money her husband brings in was used or 3 any money she gets online that isn't a paycheck from an actual job or 4. If she hasn't done a house tour it's very easy to buy a cheap house in a rural area that needs a lot of fixing up. In my town a house is between 20k-80k depending on the amount of work it needs
@@cottoncandiez8872 Her house is very lovely though. I think she said it was over 6,000 square feet and brand-new construction. She also said in the interview when she bought it with cash that "anyone can do it" and described how she put away various amounts. The thing is how do you put away $700,000 in one year for a home. (Her home cost more than that, but for general purposes. She is never in the comments and I've been asking for years about her methods. I think it's disingenuous to show how she handles money, buys an expensive house and then states that it's that easy for everyone....when she previously had a rent of $800/month. That's a tremendous lifestyle jump. I've been watching her for years and it's not made any sense for some time.
She talks about this a lot. She quit her full time job sometime in 2016/2017 if my memory serves me right to work the the budget mom business full time. She started saving for her house from the business and her house was purchased for 400k. I think she still has some of her earlier videos on here where she starts talking about saving for her house.
@@candymiller7150 If that's the case then the budgets she showed on her videos were a bit misleading. The math doesn't check out though. She said that she was only making $15,000 profit in one interview. Be that as it may, $400,000/36 months is $11,111.11 put aside a month. But according to her story, she put away, "100 here" and "$200 there" when the interviewer was asking her if the "average person could do it". She didn't answer the question but instead misrepresented the process. I'm not sure where you get $400,000 because the homes on that area go for $800,000 especially with land like she has. Her whole "business" is created so she no longer has to work. It's genius.
@@michelleadams5609 idk I posted a link to her video maybe RUclips doesn’t allow it? I found the video on her blog called “why I decided to buy my house with cash” I know before she quit her full time job she was debt free and she has talked about how when she first started the budget mom she wasn’t really making a profit. It’s been so long since I’ve watched those old videos. But when she had started saving for her house her business had really taken off by that time and the link about her starting to save for her house she talks about how she talked to her financial advisor about purchasing with cash. I just know she’s helped my family tremendously and if it’s not adding up it is genius what she’s done. 😄
Question. When you do use the money in july to buy a christmas gift thats on sale from you sinking funds, how do you colourin your tracker since the amount won't be the fulltime ammount you set your goal?
She bought her home in January 2020; however, she announced on her blog in November 2018 that she decided to "buy a home". I've been watching her channel for years until I started doing the math. I have been asking in multiple videos how she was able to save the money for the house so quickly. I mean, how does one do that? She paid cash, but she was able to do that in a little over a year with a small profit margin. At least that's what she states.
How do you know she didn't pay in cash? I paid my house off in 5 years using her methods on a one income family. (We PD zero down, and only 6months of minimum payments on our home when I found her.) March 20th was my 5 year home anniversary. It was paid in full on February 26th of this year. She has been practicing her method longer than I have. She 100% could have and DID. I kept up with her home buying journey. I know some people personally that have as well.
An easier way to do it if you don’t want to use cash. Add up all your sinking funds, divide by 12, save that much per month. Then the month you need that specific SF, transfer it out of the savings. But your monthly SF amount you save doesn’t change ever. I think it helps even out monthly spendings
Good idea but the total will probably be too high for most people to save at once
It is easier, but a lot of us like coloring it is soothing. I told my DD the other day when she said" mom just move money over" & I said" years ago I lived paycheck to paycheck, by doing savings challenges & sinking funds I debt free & have more money than I ever thought possible. I like telling my $ where to go it's great🎉🎉❤❤
This is better for those of us that have ADHD
@@t.m.3769I disagree. If I had that much money sitting in my account my ADHD desire to chase the dopamine would encourage me to spend said money. Cash I can keep out of my own sight, out of mind
Good one but we should be mindful of by what date each sinking fund is needed and how much it should at least have.
Can you explain again how to determine the value of each icon for your goal sheets?
I love your visuals!!!! It's fun to color in the charts to see ones progress!
What binder do you use?
I have car licence due in January 25
$250 hope it hasn’t gone up
I been saving 4 years this is the 5 th year
Putting $2 a fortnight then $3 and so on
I have about $70 left
I’m on low income it’s hard to hand over $250 in one hit
I’m in QLD Australia
I’m also saving for a phone and I just brought a 1 pad that I saved for as this one keeps over heating and won’t keep charge in
So glad to see you. You changed my outlook on money 4 years ago, and gave me great ideas !!
How do you have self control to not takr cash out of these ansld buy yourself a $1000 pair of shoes???
Thank you for sharing. I have been using sinking funds for 3 years and when a holiday comes around it is great to have the cash. Sometimes I do save more than planned which is even better.❤❤
This was soooooooo helpful, I'm a visual person and seeing you do it step by step clicked with me thank you
Can you please offer these trackers in an A5 size? I tried downsizing to print but it does not come out properly
I print several things like the shopping list from TBM in A5 and I like how they turn out. I do not downsize though. What I do:
- Open the PDF file in Adobe Acrobat Reader
- Select print
- Choose multiple
- It should say 2x1 in pages per sheet (that's for an A4 sheet)
You might need to adjust orientarion
I've got the german version of Adobe, so it might not be exactly the same in a version in another language.
You can scale to 68% and cut it down. Worked for me
I use filifax personal size and wish some of these at minimum came in a5 I don’t have that many transactions etc
How come you don’t use a HYSA with a higher interest rate for your sinking funds instead of just in your credit union?
That's what I do. There's some great ones right now.
Good to watch how you do it! Helpful for motivation!!
I do very little with actual cash. It feels safer to me to not have it at home AND makes it that much harder to spend it if I'm tempted or feeling short on something else. However, I definitely have little trackers for each fund, so I can see it going up, even if I can't see the actual cash piling up. I've experimented with prop money/place holders, too, but it really is the colored in boxes/icons that feels great.
I love seeing this. I found your channel in Nov 2019 before "C". I am a nurse .Single mom. This way of budgeting everything for me. ❤
Just curious how you come up to the amount to save for each fund?? Like why $8 for Valentine’s Day? How do you determine the amount for each? Is it the same amount each month?
I started this with my husband in different bank accounts for Christmas and he loved, so this year we are making for all birthday, holidays, Christmas, everything, and we are having 2 holidays, its the best thing ever.
I know this should be easy, but can you talk about how you get those sheets to fit in your binder? The details of the product say the sheets are made for 8.5X11 paper
Early morning budgeting! 🌞
How do you track if you need to spend cash out of the envelope before you reach the total goal amount? For example, if I’m saving $100 for my boys birthday and see a gift I want to get him before I reach the total goal, how do I track that deduction?
Hi. You can write the amount of cash that you take out of the envelope as a minus amount and then put the revised lower balance in the next column.
Thanks Miko!
No refund policy for her New 100 day envelope system in a box. Too small of envelopes to fit larger amounts and they are not laminated so the durability is questionable.
I will always love and recommend her newsletters, system and the "Budget by Paycheck". I have bought one for a Christmas gift and my daughter's birthday gift.
Good morning. Great video. Question- So I have multiple savings goals like you do that I save a little bit for every paycheck. I usually have money left over after bills, 401k, sinking funds that I just put in a category called unassigned savings. It’s hard assigning it to something. Any suggestions on maybe a different way I can do mine? I was thinking maybe instead of taking 12 months to save a little for all my my SFs to just fully fund each one as I go and move on to the next. Not sure what to do with the extra money in unassigned.
I had same issue. After emergency fund was done.p, I put the rest in investments
@@horaceholland6154That’s a good idea. I don’t have an investment account outside of 401k. Will look into that.
What is your opinion on Ally Banks HYSA Buckets instead of envelopes?
Great binder your amazing 👏 ❤ well explained 👏 👍 going to start it envelope ✉ system thank you sweetie fir sharing 😘 ❤
Good to watch how you do it! Helpful for motivation!!
I would like to find a couple of those trackers think it would help me
Where do we find the saving goals cover sheet?
Great video. I have learned so much. 🥰
What size binder are you using?
How do you calculate how much to put in each envelope
Love this video. Thank you. Is it because you need easy accessibility for your property taxes that you haven't been saving that in a high yield savings account? You would have made about $10 - $40 a month in interest over the past 4 years since you bought your house. It's a nice little chunk. I've just always wondered? Simplicity?
She said she does save it in her HYSA…
❤ good evening how are you doing today ❤
Qhere can get them saving sheet feom?
Saving is important, but also Most people miss it but the secret to living and retiring comfortably is finding a way to make returns while your money works for you.
No doubt being financially free and not having to worry much about housing crisis, health care and other expenses cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential.
the problem is that most don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
It's crucial for individuals to diversify their portfolios, seek professional financial advice, and stay informed about market trends to navigate these challenges effectively.
Yeah No doubt being financially free and not having to worry much about health care and other expenses cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential.
You need to get a financial planner to aid diversify your portfolio to commodities index funds, digital assets etc, to provide illumination and guidance in the financial markets.
Having an early dinner and watching! 💙
Admire you so much!
yay, I love you tube videos
Where can I get the tracker sheets you are using in this video please?
$ at her site. It's a bit pricey. I'm going to make my own.
🎉🎉🎉
🩷🩷🩷🩷🩷
I have a dumb question. I bought the saving trackers and envelopes. Also the binder. How do you make the trackers smaller so it will fit in the binder.
I printed as half page as that was the closest option I could find. They fit perfectly into my A5 binder
Not sure what issues that you are having, but try this in your printer settings. Change the paper size for your trackers to the desired size and then select "FIT" on the print screen. You probably don't want to print the envelopes very much smaller or the money won't fit.
There is no such thing as a dumb question! :) Up above @berneserainbow1407 said the following (and it worked for me)
"I print several things like the shopping list from TBM in A5 and I like how they turn out. I do not downsize though. What I do:
- Open the PDF file in Adobe Acrobat Reader
- Select print
- Choose multiple
- It should say 2x1 in pages per sheet (that's for an A4 sheet)
You might need to adjust orientation
I've got the german version of Adobe, so it might not be exactly the same in a version in another language."
Hope that helps. Cheers.😊
So, how does one go from "planning on buying a house with cash" in 2019 to buying a home in January of 2020?
I've got an uneasy feeling doing some of the math in your videos. Anyone care to enlighten me?
1. She uses a fake budget for educational purposes or 2 the money her husband brings in was used or 3 any money she gets online that isn't a paycheck from an actual job or 4. If she hasn't done a house tour it's very easy to buy a cheap house in a rural area that needs a lot of fixing up. In my town a house is between 20k-80k depending on the amount of work it needs
@@cottoncandiez8872 Her house is very lovely though. I think she said it was over 6,000 square feet and brand-new construction.
She also said in the interview when she bought it with cash that "anyone can do it" and described how she put away various amounts.
The thing is how do you put away $700,000 in one year for a home. (Her home cost more than that, but for general purposes.
She is never in the comments and I've been asking for years about her methods. I think it's disingenuous to show how she handles money, buys an expensive house and then states that it's that easy for everyone....when she previously had a rent of $800/month. That's a tremendous lifestyle jump.
I've been watching her for years and it's not made any sense for some time.
She talks about this a lot. She quit her full time job sometime in 2016/2017 if my memory serves me right to work the the budget mom business full time. She started saving for her house from the business and her house was purchased for 400k. I think she still has some of her earlier videos on here where she starts talking about saving for her house.
@@candymiller7150 If that's the case then the budgets she showed on her videos were a bit misleading. The math doesn't check out though. She said that she was only making $15,000 profit in one interview.
Be that as it may, $400,000/36 months is $11,111.11 put aside a month. But according to her story, she put away, "100 here" and "$200 there" when the interviewer was asking her if the "average person could do it". She didn't answer the question but instead misrepresented the process.
I'm not sure where you get $400,000 because the homes on that area go for $800,000 especially with land like she has.
Her whole "business" is created so she no longer has to work. It's genius.
@@michelleadams5609 idk I posted a link to her video maybe RUclips doesn’t allow it? I found the video on her blog called “why I decided to buy my house with cash” I know before she quit her full time job she was debt free and she has talked about how when she first started the budget mom she wasn’t really making a profit. It’s been so long since I’ve watched those old videos. But when she had started saving for her house her business had really taken off by that time and the link about her starting to save for her house she talks about how she talked to her financial advisor about purchasing with cash.
I just know she’s helped my family tremendously and if it’s not adding up it is genius what she’s done. 😄
Question. When you do use the money in july to buy a christmas gift thats on sale from you sinking funds, how do you colourin your tracker since the amount won't be the fulltime ammount you set your goal?
You're not debt free if you have a mortgage. Next.... and "not interested."
She doesn’t have a mortgage. She paid cash..😊
@@candymiller7150 I doubt it. Please go away or will report.
Just letting you know she doesn’t in case you were misinformed. Feel free to report me. Hopefully you have a better day.
She bought her home in January 2020; however, she announced on her blog in November 2018 that she decided to "buy a home".
I've been watching her channel for years until I started doing the math. I have been asking in multiple videos how she was able to save the money for the house so quickly. I mean, how does one do that?
She paid cash, but she was able to do that in a little over a year with a small profit margin. At least that's what she states.
How do you know she didn't pay in cash? I paid my house off in 5 years using her methods on a one income family. (We PD zero down, and only 6months of minimum payments on our home when I found her.) March 20th was my 5 year home anniversary. It was paid in full on February 26th of this year. She has been practicing her method longer than I have. She 100% could have and DID. I kept up with her home buying journey. I know some people personally that have as well.