How to Save for Christmas, Home Renovations, Pets and More!

[@GoodBoy-hx9sw]

This lady changed my life. I don't have debts, but indirectly she made me realise the importance of having a healthy state of mind, which in turn save our plante.

[@LivingSwedish]

OMG, I was just thinking about my sinking funds and starting to buy Christmas presents 🎄🎁 I'm already in Christmas mood, anyone else?! 😬

[@ayela562]

I’m halfway done haha !

[@LivingSwedish]

@@ayela562 Wow, that's so organised! Well done! 🙌🏻

[@jdrcontent2922]

We need something to cheer us. Up

[@LivingSwedish]

@@jdrcontent2922 That's so true! That's why Christmas this year will be extra special ✨

[@levelpropertymanagement5915]

Started sinking funds early- almost done!

[@capturinglifeinprogress1999]

We keep track of our funds in a different way, all in one account, but it works for us. I agree with you that it's a great experience to be able to pay for a needed repair and to know we can afford this or that without having to go into debt. We only use credit cards instead of debit cards for the points and benefits, but we pay them off every month, completely, and we never spend more than we can afford. It's a great feeling. Living within our means is something that my husband and I were both fortunate to learn from our parents, but I don't think it's the norm. I see a lot of people who need to learn how to deal with their finances, and I love that you're doing those videos to educate people on that. Thank you!

[@janinejackson9477]

My saying to myself when I go food shopping is 'If you can't eat or drink it I can live without it'. This worked for me to save money on my grocery bill. I also love Little house on the prairie and remember when the mum goes to the kitchen cupboard and pours out a couple of coins not enough for what she needs. She puts them back in the tin and the tin back in the cupboard. This stuck with me and it help me save, I imagine this being me, very poor. Thinking this way helped me not spend. This helped me pay off my loans. I hope these ideas can help someone like they helped me. It worked. I didn't spend other than on necessary food and water.

[@bruce5895]

Tip # 7 for saving your money, don't buy things that you can't afford.

[@twothousand8051]

Did u ever notice, most your viewers are money smart? I enjoy your videos, but also love reading the comments on this channel, so many wise viewers out there!🧠

[@melissaparks8549]

Love your channel Dana, your tips have helped me a ton this year! In March I started paying down debt like a boss and paying attention to my budget. I wanted to have something positive come out of 2020 and be in a better place financially. I have an emergency fund... first time ever, a slim buffer in my checking, doing a holiday save with another group and holiday gifts are almost done. Thanks again... 🙂

[@charlenebrissette3348]

Nothing feels better than when you know you have the money when things happen, and it will,not a question of if it happens but when it happens.

[@granitemoss1451]

One nice thing about a car account- it can allow you to pay your car insurance bill upfront and in full. Most companies offer you a discount for doing so,

[@joycegonzales4994]

I divide the property tax, Insurance’s etc by 12 months, and put that amount each month.

[@workingmomjuggle7399]

I do this too for things I know the amount of and when it’s due things I don’t have a choice on how much or when it’s due. The things I need help on is the saving for unknown amounts and unknown dates of things.

[@joycegonzales4994]

That’s where a yearly record of your spending comes in handy, I think, then you can see a pattern for when certain things come up. And set aside some for them.

[@monicaleite5058]

@@joycegonzales4994 thank you for your feedback

[@mjnorville1083]

I appreciate your help on the financial journey and have been praying that the neighbor situation can be healed.

[@holly_at_home206]

Thanks Dana. This video is very timely. Last week my pet emergency and vet care fund really helped with an already stressful situation with a sick pet. I was glad that I didn't have to weigh going into debt against the best health/medical choices for our beloved furry family member.

[@kerstinshadow2210]

You are so right! Having some sinking funds leads to peace of mind.

[@thorinian]

We have 3 checking accounts. 1 where all money comes into. 2nd is where we have transferred money into this account from the 1st to pay bills with. Auto payments come out of here, checks are wrote on this account for a few things. We also use this account for gas in our cars. Although an amount is set. Account 3 is for groceries. I pretty much only do online grocery. Its like my "envelope" for groceries. Then we have a savings account. All things being saved for in this account and kept track of on a spreadsheet. This is what works for us at the moment. Great advice!

[@ayela562]

Yay another video ! I just love your channel and your calm and kind approach. 😊

[@noiii99]

Sinking fund is a game changer in my family Finance

[@mollierocket705]

So defeated, it is nearly impossible to save for big things 😞 trying

[@workingmomjuggle7399]

My problem lately with having categories is that technically it’s all one “bucket” of money, if I need money for a car repair that is more than I have in that category I’m taking the money out of other categories (including the emergency savings category). This concept has stalled my thinking of having separate categories.

[@marywells7833]

I wear hearing aids too.I buy my aids at Costco.1599.00.These aids are the same as the 7000.00 dollar ones.

[@lifeunderbudget]

I have loads of categories as well. It makes things super easy.

[@workingmomjuggle7399]

How do you deal with overspending in a category?

[@lifeunderbudget]

@@workingmomjuggle7399 hi! I have a “bits and bobs” category which is either misc or I take money from that pile to add to another (but only if absolutely necessary). I only add smallish amounts of money to every category (because I have 18) but over time the overall amounts in those categories have grown enough (we live very frugally too and spend less) and I don’t experience an overspend anymore. Hope this helps!

[@mrss8572]

Great video Dana! We have lots of sinking funds. Revolving like clothes & car maintenance. Long term like Christmas, insurance & vacation.

[@AnzsStories]

I only have 2 bank accounts at the moment (payroll and emergency fund) for my sinking funds I have it in an accordion folder. I am planning to open an account for our kids savings account.

[@sarahbanda155]

I needed to hear this today. We need more sinking funds! We started Christmas & vacation funds in September but car & home funds would be awesome to add 👏🏼 thank you

[@maureen8745]

Thanks Dana for talking about "sinking funds" know that I've preplanned these fund has eliminated the use of credit cards obtaing a personal loan etc has eliminated a lot of anxiety I had worrying where the money was going come from. No worries & never again!😀

[@granitemoss1451]

My two still at home are 12 and 14. We have had a 'car account' going for them for a while,. both to help cover the cost of driver's ed ($600-ish now, they will be expected to pitch in SOME but not pay for it all themselves) and to help with costs to purchase a vehicle when it's time (or help cover the bump up in insurance when we add new drivers on to our policy).

[@lizziemcdougall2767]

Great vlog. I organize my paycheque with automatic bank transfers to a couple of accounts (home, car, emergency, education, retirement). I just have the one bank card though. When I need money, I have to transfer from that account to my chequing account. That way, I can't impulsively spend money. For Christmas, I use cash and start saving in the fall. My budget could use some tightening, and this vlog is making me think about opening more accounts in order to organize my money even better. Many thanks for another great video!

[@Noname77331]

Thanks Dana. I look forward to your content!

[@jonnaborosky8836]

I always love your videos, Dana. I wish I could have a separate bank account for every sinking fund....well actually I guess I could. Before I retired, I could only have direct deposit into two accounts. Now that I'm retired, I could open more accounts. I used to have a fund for car repair/replacement. I spent so much on repairs and maintenance throughout the year that I never ended up with anything for the next car. Now I have two different funds for those. Always love listening to you! Keep up the good work!

[@erinkerbs6789]

I use YNAB and it's a way to save sinking and emergency funds or "True Expenses" in their terms. I have saving and checking accounts, and it doesn't really matter where the money is until it needs to be spent.

[@EverySingleDollar]

Great video! I just got my head around sinking funds this year. They’re definitely the reason we’re not going into more debt for Christmas and a critical part of our journey to get out of $1.3 million in debt. Liked and subscribed!

[@justincrain9991]

Thanks for good advice. Love what you do to help others .keep up the good work.

[@Delraydharma]

Helpful video, Dana. Thanks to you I have no more credit card debt. I did your gazelle thing and it took all year but it feels good. Next: paying off the car.

[@ashvagle]

I love it for the pets and the kid activities. I’m not sure why I’m always surprised by those things but now I don’t worry cause I’ve sunk the funds already.

[@PlanYourOneLife]

I will be also starting a Kitchen Renovation sinking fund, next month. It’s time to update my kitchen.

[@shani6708]

Love your description of a sinking fund - like a boat. Makes so much sense!

[@loripotkay]

So true a sensor in my car that runs the hvac system went so took my car in. Turned out it was $300+ part then also found out I needed new brakes so it was $1300 for both and I didn’t worry one bit because I have a crap something on the car broke fund.

[@Frugal101]

Great video Dana just in time for Christmas ur videos are always informative and great love ur channel u are very inspiring 🥰❤

[@ClandestineGirl16X]

Thank you so much for your videos Dana.

[@bex438]

Thanks for all the great advice Dana 👍

[@alexandriamares1402]

Dana !!! You look so happy !!

[@plantsandfinance9863]

Hey Dana! Hope you and your family are well. I hope you come back to posting new videos 😊

[@PlanYourOneLife]

Good video!

[@DH-ex4nv]

Solid advice!

[@squirrelcity]

Great video! I've been squirreling away some acorns for this winter! My version of a sinking fund :-)

[@RachelElliotte]

Hey Dana!! Hope you have been doing well!! 🥰

[@liliamrodriguez3020]

Great video thanks

[@onthejourney9261]

If your employee doesn't allow multiple accounts on the direct deposit, I've found our credit union will do it for us. When my paycheck comes in, they will automatically transfer it to the many savings accounts I have set up with them. Their Christmas account even has a lock and once money goes in, it can't be touched until the beginning of November.

[@venuscruz6075]

I wish my husband made enough money to have this many different funds to be able to save for......after the main household bills, there just isn't enough left over.

[@findingaway5512]

Why are the hearing aids not covered?!! That is awful. I think that it should be. 😟

[@melindacarris6670]

Most carriers don’t cover them. Strange especially when born with hearing problem through no fault of patient; yet conditions caused by poor life choices are covered. Go figure!

[@findingaway5512]

@@melindacarris6670 so sucky.... You think that should be a priority. I don't personally know anybody affected with hearing from birth so I didn't even realize that. 😒

[@mikewallin6049]

The Who has a foundation that pays for hearing aids. I'll try to find a contact number for you.

[@atdepaulis]

I have a friend that is a nurse and has to get hearing aids... I. Her family they just lose hearing as they ago... I thought wow so it’s a super luxury to HEAR 👂?!?!

[@Elle-tr4pu]

thank you :)

[@smartypants1980]

Would you know how people put money in one of those internet banks with that 360 thing to save many different funds?

[@christinescott441]

Hi Dana, I am curious about the multiple bank accounts....are these accounts set up with in your current bank? or are these spread out among a variety different banks? Thanks so much for all your great advice. Christine

[@DebtFreeDana]

We have them in 3 separate banks. One is a credit union, one a local bank, and one is a national bank. Hope that helps! 😊

[@marciaford7882]

Aren't you doing KZbin anymore this is a couple of years old

[@mbnich0269]

This gives me anxiety. If I’m all this putting money in sinking funds I don’t have enough to pay bill. 🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️

[@vivalafrance9547]

Pay yourself first, by putting some money away. Then pay your bills.

[@PlanYourOneLife]

I’m doing this on my channel now, Holiday Savings Challenge. 😃 Also, I emailed you a few days ago, please reply. Thank you.

[@Libra8410]

Dana ive been watching you a long time so I hope this doesn't come off harsh but do you need to take a break? Your videos are getting really stagnant and it seems like the same information is being regurgitated. Just an observation...

[@erinkerbs6789]

I thought this one was super helpful. I have been trying to figure out how to set up our sinking funds.

[@Libra8410]

@@erinkerbs6789 It's a reposted video, she came out with this awhile ago

[@erinkerbs6789]

@@Libra8410 she did a similar one but this definitely explains it better. And your comment to Dana does come off as harsh as well as unkind. :(

[@Libra8410]

@@erinkerbs6789 I actually don't think I was being rude at all. There was no other way to say what I said. It's my opinion and if you disagree that's fine. In today's climate, if someone has a dissenting opinion, people jump down their throats. We all need to remember it is okay to disagree.

[@cherylT321]

@@Libra8410. It’s also the courteous thing to do to keep negative comments to yourself. Just because you’re thinking something, doesn’t mean you have the right to say it, and risk hurting someone’s feelings “for their own good!”

[@kristybliss4165]

Thank you so much for this video Dana ❤️🙏👍