one page of planning in january quietly saves the whole year. sinking funds: name the predictable expenses — car tax, holidays, birthdays, christmas — and give each one a small monthly amount before it can ambush you. 🎥 @TheBudgetMumUK (YouTube)
Plan a Year of Sinking Funds on Paper
Setting up sinking funds for the year in a paper budget planner — short, medium and long-term goals, each with a date and target amount. From a creator who paid off over £100k of debt with this system.
Steps
- 1
List your short-term goals for the next 12 months — the predictable expenses that always catch people out: school uniform, car tax, holidays, birthdays, Christmas.
- 2
Write a date and a target amount next to each one.
- 3
Add your medium-term goals for the next 3–5 years, like a house deposit.
- 4
Add a long-term goal for the 10–15 year horizon, like an ISA target.
- 5
Fund each goal a little every month so the money is already there when the expense arrives.