stretchingfundstoday

Fund Builder checklist

17 steps from no savings to a starter emergency fund and a set of sinking funds that cover the bills you know are coming.

Track your progress with a free accountGet the free Sinking Funds Worksheet

Get started

A separate place for the money and a first small goal.

  • Open a separate savings account for your emergency fund Guide
  • Set up an automatic transfer on payday Guide
  • Reach a starter emergency fund of $500 to $1,000 Guide
  • Find one expense to cut and save the difference Guide

Set up sinking funds

For the bills you know are coming.

  • Review 12 months of statements for non-monthly costs Guide
  • Pick your first three to five sinking funds Guide
  • Work out the amount per paycheck for each Guide
  • Decide where they live: buckets, accounts or a tracker Guide
  • Start an ongoing car or home repair fund Guide

Grow the emergency fund

From starter fund to months of essentials.

  • Calculate your full emergency fund target Guide
  • Raise your automatic transfer when income goes up Guide
  • Decide in advance how you'll split windfalls Guide
  • Compare your savings account rate and fees once a year Guide

Keep it going

Habits that keep the funds working.

  • Use the "is this an emergency?" test before dipping in Guide
  • Have a refill plan for after you use a fund Guide
  • Review your funds once a month Guide
  • Keep a visible tracker for your biggest goal Guide