you should never stop, aim to have 3-6 months worth of your rent, gas, bills and food in your emergency fund plus 50 dollars extra per month for an emergency, just like you said, 1000 nowadays is nothing
I'm 14 and I'm trying to get my first job because I'm tired of always having to ask for things and also depending other people. I was kinda scared to start off so but thank you for the video its really helpful and informative😊👍🏻
My first ever sinking fund was for christmas, and it was the first year I wasn’t completely and utterly stressed out! It’s now a must-have staple in my sinking funds. Not having to think about money during the holidays is amazing. I’m a bit of an ”over-saver” so my christmas fund goal is 1000, but knowing I can afford all the food and gifts makes christmas that much more enjoyable!
THIS right here! I can’t wait to be in that same position! I’m starting this journey this week 😛 I did do the cash envelope system for several months a couple years back & OMG it was pretty amazing!
This right here did it for me. Yes for the past few Christmas's I didn't have it now I can't wait. I want to be able to buy all the gifts I want without a worry. Thanks for the inspiration.
Just got my job a mcdonalds, my parents keep telling me i wont like but it pays 12$ an hr starting out right now and i want to save for my college!! and hopefully keep this saving method when i get older!
MANNNNNNNN YOU DONT KNOW HOW POWERFUL THIS VID WAS FOR ME 2021 BOUT TO BE SOOOOO LITTY....THANKS FOR AN EASY TO FOLLOW BLUE PRINT..I DONT FEEL SOOOO OVERWHELMED ANYMORE LOVE ❤️ AND INCREASED FUNDS HAPPY NÉW YEAR
@@spickandspanhomeorganising2836 car registration stickers. Not sure where you're located, but in the US, you have to pay a yearly registration fee on your car
Something someone told me was to save a dollar per week every month; So the first week put a dollar in a piggy bank, the 2nd week $2, the 3rd week $3 and the 4th week $4 and the rate months that have 5 weeks put $5. By the end of the year it comes out to about $120 that could be put in one of the envelopes or used for whatever you want.
My husband made fun of me for having different accounts for different things. It works! Didn’t realize there was a name for it! 😎 Thanks for explaining so clearly! Great categories.
Mel, I’ve watched several cash envelope videos for beginners and advanced but, this one right here set the standard. It was so simple yet very informative. Thank you for explaining how to start by setting goals for each envelope and growing from there. This is what I was missing!
I know this is an older video, but I wanted to pop in and say I FEEL IT with what you said for the Emergency Fund. $1000 is a blink and I feel like emergencies always cost more than $1000. For anyone reading this, I highly suggest shooting for at least a month's worth of expenses for your Emergency Fund.
I wish I found your channel faster I just now discovered what a Sinking Fund is and omg, I have so much to learn my 2021 era is all about improvements and God has been so good to be and us all, and it’s time to really realize how far I’ve come and I don’t like how I’ve been reckless with my money. It doesn’t matter if your making a killing if your not saving it all what’s the point.
Thank you so much for linking stuff that's actually affordable to get started! Like the binder. I am happy that some people have all kinds of notebooks and ipads and everything else but I just don't have the funds for that. So having affordable options are much appreciated! Thank you!
Love this video!! What I’m confused about is all of the bills that automatically come out of my account every month...car insurance, medical premium, dental insurance etc. I get paid twice a month and not bi-weekly. The envelope stuffing makes more sense to me than just tossing random amounts of money into my savings account without really having a plan for it.
Awesome video. I will defiantly add a few additional "sinking fund" categories to my monthly budget. I will add * Car tag expenses (state and property taxes) * Car inspection * Gifts * Clothing * Date nights
my car maintenance contribution is $25/pay too! i have 4 sinking accounts: christmas club ($25 auto-pay every check - i like having a "can't touch account that i use for gifting, holiday activities, paying extra toward debt, etc) tithe (i give it to my father) and car maintenance.
I’m just starting out I’m married and sometimes it can be hard trying to save and being married but I’m going to try this thank you Glad I found your page
Thanks so much for that breakdown. I been doing the cash envelope system for some time and I stopped because I had no control. I am starting again and this right here is going to keep me strong. Thanks so much. I am so glad I found your channel. Good stuff.
Thank you so much for this video! I have been watching tons of budget setups and I really appreciate you showing where you started and your reasoning for it. That helped! Now to just do it!!!
This video was very helpful...thanks. I just received the exact binder/wallet today from Amazon. I don't want to put too much into buying items because I feel its defeating the purpose of saving but I wanted something cute. So now that I know I want to stick with budgeting I bought it.
Sis 💜 this is so helpful and really appreciated! I had no where to start so girl thank you. Im all about getting "it" together and making sure my bag is long term secured.
Didn't know it was called a sinking fund but I started this last year for my insurances so that I can pay them semi-monthly & annually. Now I'm shooting for things like car maintenance, medical copays/RX, hair/nails/clothes, birthdays, and Christmas, etc. It feels good to get bonuses at work and not have to use them for big expenses that I actually budget and save for monthly.
Ok this set me straight. I feel I was so aggressive with my savings and I need to calculate what I actually need for set task. Like I know I need about three oil changes in a year and this year I need new tires so that budget was significantly smaller than what I was intending to put up.
Good Morning, I just found and Subscribed to your channel. Your energy is just off the hook, I am excited to learn more. Thank you for sharing, it really is frustrating and confusing. You simplified this and it cleared a lot up.
This video helps so much I’m planing on moving out my people place I feel I’m going to be ok with me being on the budget thank you for this video ❤️❤️🔥
I’m 16 and I want to start this when I get a job in summer.. do you recommend having a car maintenance and emergency fund or just have an emergency fund that includes car maintenance?
Start with just an emergency fund that can count for both since you are just starting out! Especially if your parents will help with car maintenance while you are still young!
Thank you so much for this video it was really helpful and informative especially for a new beginner like myself. I ordered my budget binder this week cant wait to start budgeting.Thank you
lovee the video!! great and inspiring advice! i just graduated university and this video is just what i needed to get my finances goinngg!! take care and god bless! PS your audio sounds so great!
Thank u for explaining im still working on my sinking funds this helped alot and since im new to it...also i have aaa too and i started my sinking funds late for car mait so what imma do is the 4 months aaa waive imma add that money into my car mait but so far i been doing $10 sometimes more if i have it
Your video has been very helpful. You explained how to get started very well. Question... Do you put any if that money in a savings so it can gain interest or just use the envelopes?
I enjoyed your video but you didn't really explain what a sinking fund really is, the purpose of a sinking funds setup, and that basically you're using the envelope system but with a bit of a snowballing budgeting twist to it. This particular type of budgeting isn't new, it just has a new name now (sinking funds vs the envelope system). For future references (even tho this video is almost a year old) a short explanation about the system your using and how it works would be nice. I understand this is just a "how I started" video but it would probably help your audience for a short "what is" explanation before diving right into your setup. Again, great video!
Thank you! I just started a debt snowball and was looking into these.... Would these be before or after paying debt off? I don't make a ton of money and get paid once a month so I need to be strategic about what I do.
It would be wise to use this method while you're in the process of becoming debt free for 2 reasons. 1) you need to manage your monthly pay check to ensure you're making debt repayments. 2) so you build a new relationship with money
i had to start a kids travel sinking fund because next week my son is going to japan and it was almost 6,000 dollars i had a year to pay it but still it was hard sence i am on disability , in 2 years my daughter is going so i have more time to get money together between me and hubby so we dont have to struggle again
![[FULL EP.16] เซียนพาลุย "เผือก-ฟรอยด์" กรี๊ดลั่น จนปูหนี | เฮ็ดอย่างเซียนหรั่ง | One Playground](http://i.ytimg.com/vi/FsqUvwS3b-Y/mqdefault.jpg)
you should never stop, aim to have 3-6 months worth of your rent, gas, bills and food in your emergency fund plus 50 dollars extra per month for an emergency, just like you said, 1000 nowadays is nothing
I'm 14 and I'm trying to get my first job because I'm tired of always having to ask for things and also depending other people. I was kinda scared to start off so but thank you for the video its really helpful and informative😊👍🏻
Same here.
Wishing you the best. Good luck in your future.
@@robertfarrell4228 😊 thank you
Same girl... Where y'all live?
I truned 15 today and my first job starts dec 4
My first ever sinking fund was for christmas, and it was the first year I wasn’t completely and utterly stressed out! It’s now a must-have staple in my sinking funds. Not having to think about money during the holidays is amazing. I’m a bit of an ”over-saver” so my christmas fund goal is 1000, but knowing I can afford all the food and gifts makes christmas that much more enjoyable!
THIS right here! I can’t wait to be in that same position! I’m starting this journey this week 😛 I did do the cash envelope system for several months a couple years back & OMG it was pretty amazing!
Same! This year my goal was $2000 for Christmas (my favorite holiday) and let me tell ya, having NO worries about it is a great feeling!
This right here did it for me. Yes for the past few Christmas's I didn't have it now I can't wait. I want to be able to buy all the gifts I want without a worry. Thanks for the inspiration.
Just got my job a mcdonalds, my parents keep telling me i wont like but it pays 12$ an hr starting out right now and i want to save for my college!! and hopefully keep this saving method when i get older!
MANNNNNNNN YOU DONT KNOW HOW POWERFUL THIS VID WAS FOR ME 2021 BOUT TO BE SOOOOO LITTY....THANKS FOR AN EASY TO FOLLOW BLUE PRINT..I DONT FEEL SOOOO OVERWHELMED ANYMORE
LOVE ❤️ AND INCREASED FUNDS
HAPPY NÉW YEAR
It’s up from here sis 😘
I love this video very helpful
Thank you for explaining sinking funds. I'm starting in January. Subscribed!!
Thanks for the support😊🌸. So happy I did sinking funds I love them 🥰 you will too.
Don’t forget to save 🤗
Awesome video. Can I ask what is a car tag ???
@@spickandspanhomeorganising2836 car registration stickers. Not sure where you're located, but in the US, you have to pay a yearly registration fee on your car
Something someone told me was to save a dollar per week every month; So the first week put a dollar in a piggy bank, the 2nd week $2, the 3rd week $3 and the 4th week $4 and the rate months that have 5 weeks put $5. By the end of the year it comes out to about $120 that could be put in one of the envelopes or used for whatever you want.
My husband made fun of me for having different accounts for different things. It works! Didn’t realize there was a name for it! 😎 Thanks for explaining so clearly! Great categories.
Mel, I’ve watched several cash envelope videos for beginners and advanced but, this one right here set the standard. It was so simple yet very informative. Thank you for explaining how to start by setting goals for each envelope and growing from there. This is what I was missing!
Hey thank you so much for stopping by, if you have any more questions let me know 💜💜
@Deb R I agree with you. This is what I truly was missing.
This is so great! I see so many you tubers doing sinking funds, but never seen a video on how to start! ❤️
Starting my sinking fund Friday when I get paid. And will be watching a cash flow video when I'm done with this. Great job by the way.
Awesome! Thank you!
I truly, truly appreciate this video. If 2020 has taught me anything it's that financial security is necessary for a sane life.
Detrimental? Like it is bad for a sane life? i find it more beneficial...
@@meadowwalk sorry about that. Can't believe I made that mistake.
@@nightangel3578 hey we all do it! Lol
I know this is an older video, but I wanted to pop in and say I FEEL IT with what you said for the Emergency Fund. $1000 is a blink and I feel like emergencies always cost more than $1000. For anyone reading this, I highly suggest shooting for at least a month's worth of expenses for your Emergency Fund.
I wish I found your channel faster I just now discovered what a Sinking Fund is and omg, I have so much to learn my 2021 era is all about improvements and God has been so good to be and us all, and it’s time to really realize how far I’ve come and I don’t like how I’ve been reckless with my money. It doesn’t matter if your making a killing if your not saving it all what’s the point.
I love you girl I looked at. A thousand sinking fund videos didn’t understand nothing I loveeee this one thank you
Going to send this to my bf. b/c I tried explaining it to him and he thought it was pointless lol
Thank you so much for linking stuff that's actually affordable to get started! Like the binder. I am happy that some people have all kinds of notebooks and ipads and everything else but I just don't have the funds for that. So having affordable options are much appreciated! Thank you!
Your so welcome, Thankyou for stopping by 💕
Love this video!! What I’m confused about is all of the bills that automatically come out of my account every month...car insurance, medical premium, dental insurance etc. I get paid twice a month and not bi-weekly. The envelope stuffing makes more sense to me than just tossing random amounts of money into my savings account without really having a plan for it.
You did an AMAZING JOB explaining sinking funds!!!!
Asia Cierra Budgets Thankyou !!
Mel Budgets 🥰
Good idea
Love this! I love to save money, lol. That saved me during the his time because I am an independent contractor so my income is never a regular amount.
When I started I did not understand the value of SFs. 8 years into budgeting I have 25 SFs!!! I love them!
Awesome video. I will defiantly add a few additional "sinking fund" categories to my monthly budget. I will add
* Car tag expenses (state and property taxes)
* Car inspection
* Gifts
* Clothing
* Date nights
I love the way you simplified it. It can be overwhelming. Thank you for explaining it.
my car maintenance contribution is $25/pay too! i have 4 sinking accounts: christmas club ($25 auto-pay every check - i like having a "can't touch account that i use for gifting, holiday activities, paying extra toward debt, etc) tithe (i give it to my father) and car maintenance.
Thank you for explaining this. I am seriously starting this system and also teaching my 15 and 16 year old.
I’m just starting out I’m married and sometimes it can be hard trying to save and being married but I’m going to try this thank you Glad I found your page
I really appreciate how you broke it down for us . Chille I’m starting out and it been different for me but this definitely helped out
Thanks so much for that breakdown. I been doing the cash envelope system for some time and I stopped because I had no control. I am starting again and this right here is going to keep me strong. Thanks so much. I am so glad I found your channel. Good stuff.
Thank you so much for this video! I have been watching tons of budget setups and I really appreciate you showing where you started and your reasoning for it. That helped! Now to just do it!!!
This video was so great! Thank you for all the information! I have already saved over 600.00 towards my emergency fund.
This video was very helpful...thanks. I just received the exact binder/wallet today from Amazon. I don't want to put too much into buying items because I feel its defeating the purpose of saving but I wanted something cute. So now that I know I want to stick with budgeting I bought it.
You got a link to the wallet? I love it
When you have a cute wallet it makes you feel cute to use it!
Thank you so much for making this video. I’ve budgeted and tracked my expenses for 3 years and 3 months, but I am still new to sinking funds.
Sis 💜 this is so helpful and really appreciated! I had no where to start so girl thank you. Im all about getting "it" together and making sure my bag is long term secured.
Didn't know it was called a sinking fund but I started this last year for my insurances so that I can pay them semi-monthly & annually. Now I'm shooting for things like car maintenance, medical copays/RX, hair/nails/clothes, birthdays, and Christmas, etc. It feels good to get bonuses at work and not have to use them for big expenses that I actually budget and save for monthly.
Thank you for breaking down the steps and helping me with decide which categories I need in my sinking funds. So glad that I came across your channel.
Aww your welcome I’m so glad I can help. Thanks for watching 🥰
You make it all so simple to understand. I've watched other videos and GIRL 😳. Thank you!
Ok this set me straight. I feel I was so aggressive with my savings and I need to calculate what I actually need for set task. Like I know I need about three oil changes in a year and this year I need new tires so that budget was significantly smaller than what I was intending to put up.
Good Morning, I just found and Subscribed to your channel. Your energy is just off the hook, I am excited to learn more. Thank you for sharing, it really is frustrating and confusing. You simplified this and it cleared a lot up.
Yes i am about to be 14 so i am trying to save for a car and want to start saving! Thanks so much!
Just found you 3:30am, couldn't sleep, now I've subscribed and going to try it!
Welcome aboard!
I just started on my budget and you have explained EVERYTHING I needed to know. Will be back to get more tips.
This video helps so much I’m planing on moving out my people place I feel I’m going to be ok with me being on the budget thank you for this video ❤️❤️🔥
Thanks for sharing 🤗 how budgeting works 💕💜💖💜💖💜
Just re-subscribed. Unfortunately I got hacked and lost my account. So glad I found you again. Lots of love x
Omg so sorry to hear that. Thank you for your support. 🤍
Just heard about sinking funds. This is the best video I've seen so far!
Thank you!
Glad you enjoyed it!
For medical I highly recommend a HSA account if your job/company offers one. Tax benefits too
Great Job ! love your sinking funds set up 🤗
Thank you took me awhile to get organized but I finally got it lol
@@mel_budgets The budget journey is a learning process . I am always learning new things everyday 🤗
I’m 16 and I want to start this when I get a job in summer.. do you recommend having a car maintenance and emergency fund or just have an emergency fund that includes car maintenance?
I would do an emergency fund first so you have a safety net while you save for other funds
Start with just an emergency fund that can count for both since you are just starting out! Especially if your parents will help with car maintenance while you are still young!
Wow I had the same question lol thanks guys
Save $1K in an emergency fund first ($500 if you make less than $20,000 a year) and then add car repair/maintenance fund
This had been so helpful! I’ve watched so many videos, but no one has explained how to start. Boom, subscribed✅
Loved it. congratulations
Thank you ✨
Thank you so much this. This is the best video I have found to explain this concept so I can get started.
Thanks so much for this. I follow so many budget channels, but no one was breaking it dwn enough. This was great liked & subscribed!!
Great great great video!!
I think this was the best explanation of SF I've seen. Great job! Thx I'm starting soon.
Thank you so much for this video it was really helpful and informative especially for a new beginner like myself. I ordered my budget binder this week cant wait to start budgeting.Thank you
Thank goodness for your video because I was so lost on how to even start 🙏🏽✨
I don't know where to start and I just find your helpful video...thank you! 💕
I don't know where to start
Begin with a category that causes the most grief.
This is the best sinking funds video I’ve seen and I watched a lot! Thank you for sharing 💓
I just found your channel today and I love it!!!. Keep up the good work.
Thank you so much for the great explanation!!!! Really appreciated!!
Thank you for doing this vid. I didn't even know this was a thing. I always had a pot of money in a box, but this makes it so much more. organized.
Hey Mel here!! 😄
lovee the video!! great and inspiring advice! i just graduated university and this video is just what i needed to get my finances goinngg!! take care and god bless! PS your audio sounds so great!
I crack up every time she goes “mmkay” 😂
Love this video girl you did your thing ❤️❤️🥂🥂
Thank you so much for explaining! I am definitely looking forward to watching more of your videos 💕
I love those markers. An great advise. Even though I'm budgeting I still love to learn from others an get ideas or listen to their ideas
Soooo glad i found your channel!! You explain it really well, thank you 😊
Thank you , you explained things so simple and straight to the point . 💜💜 love the videos
Your welcome let me know if you have any questions ✨🤍
i am on social security only...and your video was great and realistic..thank you!
Thank u for explaining im still working on my sinking funds this helped alot and since im new to it...also i have aaa too and i started my sinking funds late for car mait so what imma do is the 4 months aaa waive imma add that money into my car mait but so far i been doing $10 sometimes more if i have it
so glad i came across your channel! thank you 🤗🤗
Just turned 11 and saved over £800 pound in 3 years without a job :)
super on point! awesome.thanks
New subbie! Love your channel
Hello! I really enjoy your content. I'm inspired to start my own financial journey. Thank you for the inspiration!
Thank you I appreciate your video
This was super helpful- thank you so much!
Thank you for explaining this!!!
Good job! Love those new envelopes. I have a sinking fund for beauty bc I spend ton of money there unfortunately 😅
You and me both! thanks for watching :)
Subscribed YOUR channel. Love your explanation dear. Hope I can utilise these as much as I can ❤️❤️❤️
Thanks for subbing!
Love this idea
Great video love the wallet!!
Is it appropriate to tell you that I love you on here? Listen sis you out here schooling me and I LOVE YOU! ❤️
OMG THANK YOU SO MUCH 🥰😍🥰😍 best comment EVER 🙌🏾🙌🏾👏🏾👏🏾
I Loveeeeeee This Advice♥️, thanks so much!!
Great tips
Your video has been very helpful. You explained how to get started very well.
Question... Do you put any if that money in a savings so it can gain interest or just use the envelopes?
Thanks 😊 Yes once one envelope hits a certain amount I put it in a savings to gain interest and start over again with that envelope.
hi! thank you, your videos are so helpful.
Once I settled into my new Apartment, I want to start too.
Super great explanation!
Thank you!
I enjoyed your video but you didn't really explain what a sinking fund really is, the purpose of a sinking funds setup, and that basically you're using the envelope system but with a bit of a snowballing budgeting twist to it. This particular type of budgeting isn't new, it just has a new name now (sinking funds vs the envelope system). For future references (even tho this video is almost a year old) a short explanation about the system your using and how it works would be nice. I understand this is just a "how I started" video but it would probably help your audience for a short "what is" explanation before diving right into your setup.
Again, great video!
Where I live you have to be 18 to have a job so you're lucky also good job
Thank you! I just started a debt snowball and was looking into these....
Would these be before or after paying debt off? I don't make a ton of money and get paid once a month so I need to be strategic about what I do.
It would be wise to use this method while you're in the process of becoming debt free for 2 reasons. 1) you need to manage your monthly pay check to ensure you're making debt repayments. 2) so you build a new relationship with money
Along with debt snowball, do sinking funds but start with maybe 2... Christmas and beginning Emergency Fund
I love your videos🥺❤️
Thank you for this!!!!
I need those markers!!!
New Subbie 👋🏾👋🏾
Welcome, love your name 👏🏾👏🏾
New subby here, loved this breakdown! Just posted my first video joining the yt budgeting community! ✨✨
Awesome thanks for the support and welcome to the community ✨👏🏾👏🏾👏🏾👏🏾
i had to start a kids travel sinking fund because next week my son is going to japan and it was almost 6,000 dollars i had a year to pay it but still it was hard sence i am on disability , in 2 years my daughter is going so i have more time to get money together between me and hubby so we dont have to struggle again