Description
Sinking Funds Manual
Don’t let large expenses catch you off guard. Our Sinking Funds Tracker helps you set aside monthly money for future expenses, so you can save gradually instead of all at once. Whether you’re planning a family vacation, saving for Christmas gifts, or budgeting for a home remodel, this tracker makes it easy to see your progress. Track exactly how much you’ve saved for each sinking fund and know how much more you need to save automatically. You can save for any future expense with support for up to 25 different sinking funds.
Benefits of Sinking Funds 📊
- 💰 Budget Control: Helps you save for irregular expenses.
- 📅 Financial Planning: Ensures you’re prepared for future costs.
- 📈 Growth Potential: Funds accumulate interest over time.
- 🛡️ Emergency Preparedness: Provides a safety net for unexpected expenses.
- 🎯 Goal Achievement: Enables you to achieve specific financial objectives.
Why should I use Sinking Funds? 🤔
- 💡 Financial Stability: Prevents budgeting disruptions due to unforeseen expenses.
- 🚀 Achieve Goals: Facilitates saving towards large purchases or milestones.
- 🔍 Avoid Debt: Reduces reliance on credit for emergencies.
- 📊 Track Progress: Monitor savings growth and adjust as needed.
- 🌟 Peace of Mind: Ensures you’re financially prepared for the future.
Freebies 🤩
- ✅ Daily Routine Tracker
- ✅ Household Budget Tracker
- ✅ Holiday Gift Tracker
- ✅ Yearly Goal Planner
- ✅ Rental Income & Expense Tracker
Steps on how to use Sinking Funds:
Step 1: Go to the “Setup” tab, right beside the “Introductions” tab.
Step 2: Enter the name of your sinking fund. Some examples of sinking funds are Emergency Funds, Vacation Funds, Car Maintenance, Home Renovation, Education, etc.
Step 3: Input the desired amount.
Step 4: Enter the amount already saved.
Step 5: Specify the start date.
Step 6: Specify the target date.
Transactions tab
Every time you set aside money for a sinking fund, go to the ‘Transactions’ tab.
Step 1: Double-click here to select the date.
Step 2: Choose the desired sinking fund.
Step 3: Enter the amount.
Step 4 (optional): You can add notes to provide more details on the transaction.
The rest will be calculated automatically. You can easily view everything through the dashboard.
