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Sinking funds

Carrie

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Sinking funds goals & amounts

 

Listed by priority

1. Tuition $2700/$3500 due Sept 7, 2016

2. Property tax $7/$2400 due Jan 1, 2017

3. Home/Auto Maintenance (EF for the EF), $2360/no cap --- need to set a monthly amount to contribute and forget about it -- ideally could keep in the $10k range, but would not object to getting it higher until we know what-all repairs may need to happen on the house when we decide to list

4. Vacation Fund $860/$2500 due Jun 1, 2017

 

Not a sinking fund, but a goal -- I want to aim to put at least $2000 into my Indv 401k before next April, but property taxes come first, obviously.

 

To fund these ...

Snowball to the mortgage, other than small rounding up to nearest hundred, is on hold. I'm working from home, bringing in between $500-$1000 per month - this money is going towards current sinking fund needs.

 

We've been hit hard with dental expenses this summer/fall, but hoping to reimburse ourselves once our brand-new HSA is funded. Also, our new HSA will now be our medical sinking fund.

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Unexpectedly, it appears we'll get a distribution (payout from a languishing trust, we're not talking big money, but enough to make my sinking fund anxiety go away) this year that we didn't think was going to happen, so.... in about two-three weeks, I think we'll be sinking fund - funded.  Then we can move on to whatever is next with our snowball.  I need to sit DH down and figure out if we then focus on mortgage or if we turn our focus to more retirement or just piling up cash.  

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