Savings Goals & Budgeting: How to Plan and Fund Every Goal
By Allen Krewzz
Why Goals Need a Budget Behind Them
Setting SMART Savings Goals
Popular Budgeting Methods
Short-, Medium-, and Long-Term Goals
Using Sinking Funds for Predictable Expenses
Sinking funds and emergency funds serve different jobs. A sinking fund covers a *known* future expense; an emergency fund covers the *unknown*. Keeping them separate avoids confusion about what the money is actually for.