6 Sinking Funds Categories For Cash Stuffing in 2023

Hello everybody. I'd like to share my sinking funds categories with you for 2023. Many of these are personal to me, but if you are interested in setting up your own sinking funds, these are some categories you should probably have in mind when you're doing yours.


These are categories that either have helped me massively over the last twelve months with my goals, or they are ones that I wish I'd done. Follow along and take some inspiration from these ideas if you think they're relevant to you.


Over the past year, I’ve realized there are certain areas I wish I had created funds for, so I’m going to make a new list for the new year and add some categories. I'm going to start them at the beginning of January.


Saving money for Christmas

1. Christmas

The biggest category that I'm kicking myself for not doing earlier is my Christmas fund. I did give myself a Christmas envelope but I started it quite late. This year I want to get a head start and put more focus on it.


I'm going to give myself little interim goals to hit. I’ll try to have certain amounts by the end of January, the end of February, the end of March, and so on. I've already got myself a separate gift envelope. 


Christmas is a funny one. I hadn't spent a great deal this Christmas in terms of things like decorations, food, and presents because I tried to be savvy and do things throughout the year to make sure I was ready.


For example, in January 2022, I bought a few things on sale. I purchased things like reduced-price wrapping paper, tinsel, and different Christmas items that were being sold at reduced prices. 


You know what? When Christmas came around I didn't even need any of it because I already had a lot of it. I'm going to do a bit of a stock inventory this year to make sure I don’t buy repeat items again. 


When it came to presents, I was overly restricted, and I don't want to feel that way this time around. I love buying gifts for people if I can afford them. I'm starting early this year and hoping to have enough funds by October. That way I can spend it and enjoy the shopping without any guilt or concern.

Setting sinking funds categories

2. Children 

This year I also want to focus a bit more on the children. If you haven't got children, you might want to create separate saving funds or something else. I've got two children and I felt that I was so focused on saving for Christmas I didn’t have enough left for the kids during the year.


Of course, they were the beneficiaries of my Christmas fund, but I want to do a bit more saving for them this year for other things.

Sinking funds categories

3. Travel

I'm going to put New York on my list. Eight years ago I took my daughter to New York, and I promised her that I would take her again when she was 16. My goal is to take her in 2024 around Easter time. You might have a different vacation or something in mind. 


I would also like to travel around the UK a bit more, so I'm going to put UK travel on. I'd love to go to Ireland. I have never been there, and I live so close. So, I'm going to set up a little sinking fund for that. I’ll need funds to get the car fixed up and ready for a road trip, and have the proper insurance and things like that.


4. London Marathon 

I've got a few other things that I already know I want to save for in 2023. One is the London marathon. I've already paid my registration fee, but I will need funds for accommodations.


I’ll also need transport, food, along with many other things while I'm down there. The marathon is in April, which is quite soon so that will be another category. 


5. Emergency fund

I want to encourage you to create an emergency fund if you haven't already got one. I'm quite happy with my emergency fund right now. I'd still like to get it bigger in the future though so I’m going to give myself a higher goal for 2023.

Studio and equipment

6. Studio and equipment

Another fund I’m creating this year is to help support my YouTube channel. This time last year I had not yet hit one thousand subscribers and now I'm almost at 4000, which I find absolutely incredible.


All this time I've been creating videos with a broken iPhone and tiny ring light that is constantly flickering on and off. I could also really use a new microphone, along with other general equipment upgrades.


Another thing I’d really like for this category is to fix up my studio. I’m hoping to create a studio in my garage, but right now it’s too cold in there. My current studio is my kitchen.


I’d like to move out of the kitchen and into the garage but even when it's got a little electric heater, it's just so cold in there. It would be great to have it all set up and ready so I could just walk in and start filming. 


These sinking fund categories are going to be my priorities in the next year. Just like this year, they could very well change and adapt. For example, I might not end up doing the marathon if my knees are in bad shape. It’s okay to reevaluate your goals and funds as time passes. 


Sinking funds categories

I hope you found it helpful to see what I’m doing with my sinking funds. You can take this as inspiration to get your sinking fund categories in order. Leave me a comment and let me know if you found this helpful.


Tell me about your categories. I’d love to hear from you. Thank you so much and have a fantastic day!

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