What's inside
- Up to 8 sinking funds, each with a goal, a due date and what you've saved so far.
- How much to save per month for each fund, recalculated automatically as time passes.
- Progress bars that fill up as you save.
- A monthly total, the one number to move to savings every payday.
How to use it
- Download the file and open it in Excel, or upload it to Google Drive and open it with Google Sheets.
- Replace the example funds with your own: what it's for, how much you need, when you need it and what you've already put aside.
- Set up an automatic transfer for the monthly total, ideally into a separate high-yield savings account.
- Once a month, update Saved so far. When a bill arrives, pay it from the fund, not from your budget.
What is a sinking fund?
A sinking fund is money you set aside, little by little, for a specific cost you know is coming. Instead of a $1,200 insurance bill hitting in one month, you save $100 a month for a year. The bill arrives, the money is there, and your budget doesn't even notice.
Monthly amount = (goal − saved so far) ÷ months until it's due
Sinking fund or emergency fund?
An emergency fund covers the unexpected, like a job loss or an urgent repair. Sinking funds cover the expected-but-irregular: things you can see coming on the calendar. Keeping them separate stops your holiday savings from quietly becoming your emergency cushion. Size your emergency fund with our free emergency fund calculator.
Common sinking funds
- Car maintenance, tires and registration
- Annual insurance premiums, subscriptions and memberships
- Holidays, birthdays and gifts
- Vacations and travel
- Home repairs and replacing appliances
- Medical and dental costs, glasses
- A new phone or laptop
Questions people ask
Do I need a separate bank account for each fund?
No. One savings account works fine; the spreadsheet tracks how much of it belongs to each fund. Some banks let you create named "buckets" inside one account, which makes it even easier.
What happens when a due date passes?
Once you've paid the bill, reset the fund: set the next due date and the new goal, and put what's left (if anything) in Saved so far.
Is it free?
Yes, with no sign-up and no email needed. It's yours for personal use.
Need more?
The Paycheck Budget & Sinking Funds in our Money Toolkit adds 15 funds inside a full 12-month budget, plus an emergency-fund planner.
See what's inside