Great video. Yes. I use sinking funds instead of the cash envelope system for budgeting. I've opened up a free checking account with respective debit card for each sinking fund at my local Credit Union. I will use your spreadsheet to help me keep track.
@@justin-cx7ni that’s amazing!!! So you have a separate debit card for each sinking fund? Qube money is also great for keeping your sinking funds and budget categories too with one debit card.
@@MrJamieGriffin Do you know how to link bills/payment dates from a Cell on Excel/Google sheets to a calendar (either in excel or on the desktop). I made a bill payment tracker in excel, but I wish I could see it in a list calendar format or be alerted of it. Thanks
@@gregedwards7895 I actually saw your previous comment and was just looking into how to do that. I made a note to try figure that out and make a video for it
It's similar to what I have already done, but I like the total account in savings part. I have them too but I just put in alongside my goals row which can get confusing... but then I'm the only one who has access to it anyway so it doesn't matter 😆I would like to point out that you did not add in the balance you have, so the total in savings accounts would then be short of the opening balance, unless you want to track the amount added for the year only.
That’s a great point that I missed. Thanks for pointing that out. For anyone watching the video and reading this comment, please do add your current bank account balance in factor it into the formula for the Total in Savings.
It absolutely will if you include it in the formulas when you set up your spreadsheet. That way it will automatically calculate your totals including the starting balances.
@@anisyuhadah great question! For subtraction, you have to do some manual math to determine the net deposit for the sinking fund. So if your monthly deposit for your travel sinking fund is $100, and you spent $250 for a weekend getaway, you would type -$150 into the cell for that month. Then the formulas you have set up will automatically calculate your new total for the sinking fund.
