EveryDollar budgeting app on a iPhone

What is a Sinking Fund?

Money doesn’t come easy. We learn this truth when our first real paycheck falls far below our youthful expectations.

And what about managing money? That doesn’t come easy, either. We have to be purposeful and intentional if we hope to give, save and spend wisely.

One way to be intentional is to set up a sinking fund in your budget.

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Woman using EveryDollar budget app on a computer

How to Stop the Paycheck-to-Paycheck Cycle

Ever catch yourself counting down the days until payday?

Maybe you charged a pair of running shoes last month, and the bill just came in. Or maybe your check-engine light is on, and you’re dreading the repair. Either way, that paycheck can’t come fast enough—and might not be enough.

For 78% of Americans, living paycheck to paycheck is a way of life—an endless cycle of money going out almost as soon as it comes in.(1)

But around here, we have this crazy idea that you can break the cycle of spending more than you make by setting up a solid budget. You don’t have to live paycheck to paycheck! Here’s how:

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cell phone with EveryDollar budget on screen

Downsize Your House; Further Your Budget

What would you do with an extra $100,000 sitting in your bank account? You read that right. That’s five zeros.

Take a quick look at your budget, and you’ll see plenty of places that extra money would do some powerful work. Maybe you could get rid of that Debt category for good and free up money for fun and the future. What a weight off that would be, right?

But how?

We have a radical solution—but we realize it’s a hard sell. Why? Because we’re suggesting downsizing.

Everyone knows the saying, “home is where the heart is.” But we also know a house is just a building. A home is about the people in it. And if the people in your house are ready to make the move (literally and figuratively) to financial peace, we’ve got the info you need.

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Stacked coffee cups

Money Habits: How to Ditch Bad Ones and Create Good Ones

If you’re like most adults, money plays a big role in your everyday life. After all, you work hard to earn it!

That’s why it hurts so much when money slips through your fingers before you even have the chance to really do something with it.

So let’s talk about the power of healthy habits, specifically money habits.

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Christmas budget

July Challenge: Christmas in July

We’re not sure who coined the phrase Christmas in July, but we’re glad they did.

That phrase reminds us to plan for Christmas five months before it gets here. Too many people wait until December to buy gifts. With no money saved, they turn to credit cards in a panic and then end up paying for Christmas until next April. Have you ever been there?

It’s much easier to get ready for the holiday season little by little. You just need to know where to start. Here are five ways you can get a jump on Christmas—in July.

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