Sinking Funds Tracker
Set goals and due dates. It works out the monthly amount and tracks progress for up to 15 funds.
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Track your funds month after month
The Sinking Funds Tracker does this for up to 15 goals and shows progress. Budget by Paycheck fits the savings into each paycheck alongside your bills.
Budget by Paycheck
Add your paychecks and bills. It assigns each bill to the right paycheck and shows what's left from each one.
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How sinking funds work
Most budget-breaking expenses aren't emergencies. They're things you knew were coming but didn't save for: holiday gifts, the yearly car registration, a wedding you're invited to, back-to-school shopping. A sinking fund turns each of those into a small, regular amount.
The formula is simple: (goal − already saved) ÷ months left. If Christmas is $800, you've saved $240 and it's six months away, that's $93.34 a month. The calculator does it for every goal at once and adds them up, so you see the one number to move into savings each month.
Monthly or per paycheck?
If you're paid weekly or every two weeks, it's easier to save per paycheck. Pick your pay schedule and the calculator counts the actual paychecks before each due date. You'll see the amount to move from every check, plus what that adds up to in an average month.
Common sinking funds people forget
- Car: registration, inspection, repairs, tires, insurance paid yearly
- Holidays, birthdays and back-to-school
- Vet bills, medical deductibles, glasses and dental
- Annual subscriptions and memberships, home repairs, clothing
- Travel, weddings and other people's celebrations
Tips that make it stick
Start with your three biggest goals; you can add the rest later. Automate the transfer for payday so it happens before you can spend it. When you take money out, recalculate, because the formula corrects itself. And if the total looks too big, push a due date back or lower a target instead of giving up on the whole plan.
A calculator gives you the numbers once. To track balances and progress month after month, the spreadsheets below keep it going in Google Sheets.
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Questions
What is a sinking fund?
It's money you set aside a little at a time for a cost you know is coming: Christmas, car insurance paid yearly, a vacation, new tires. Instead of one big hit, you save a smaller amount every month or paycheck.
How do I calculate how much to save each month?
Take what you still need (goal minus what you've already saved) and divide it by the number of months until it's due. This calculator does that for every goal and rounds up to the cent so you don't fall short.
How is the per-paycheck amount worked out?
It counts the paychecks you'll get before each due date (weekly, every two weeks, twice a month or monthly) and divides what you still need by that number. Because some months have three weekly or biweekly paychecks, the per-paycheck amount can be a little less than the monthly amount divided evenly.
Do I need a separate bank account for each fund?
No. Most people keep all their sinking funds in one high-yield savings account and track how much belongs to each goal in a list or spreadsheet.