[Julie]

Once your emergency savings is fully funded, do you keep saving for “regular stuff”? For instance, do you also save for a future car or a downpayment on a property you might be interested in, or vacations?

I’ve been focusing more on retirement savings than other savings. Are we “supposed” to do both?

[Jennifer]

I use Wealthfront, and have sinking funds buckets to help me save for upcoming payments like 2025 Roth IRA, renewing auto/renter’s insurance, Xmas, vacation, etc.

Recently I transferred the money from the “car” bucket and paid for my car in cash. Was a big moment for me!

These buckets have helped me hit my financial goals.

[Barbara]

Yes, definitely. Things that I know will keep coming up aren’t “emergencies”.

I use YNAB for all of my non-retirement budgeting.

It’s great for setting up different goals and really helping to focus on what your priorities are.

[Heather]

I have short/medium term savings goals in my HYSA in addition to our EF. For example, I save $100/month for family vacations (our airfare/hotels are covered by cc points but this covers food/airport parking/etc).

[Steve]

I created different savings and investing accounts for every major goal or expense, and funded each from each paycheck based on how important they were.

When an account had enough to purchase its goal, it was either cashed out and closed, or funded for the next goal.

[Author]

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