The other day, my husband checked our shared credit card balance on our banking app and was shocked to see that we were over budget. After reviewing the charges, we realized that several membership fees had renewed in August, costing us a couple hundred dollars. These were memberships we wanted to keep, so we decided to set up a sinking fund to cover these costs throughout the year.
Here’s the breakdown of the membership costs:
– AAA for car issues: $103/year
– Dropbox for cloud storage: $120/year
– Credit card rewards fee: $95/year
– Warehouse memberships (Costco Executive and Sam’s Club basic): $190/year
Totaling $647 for the year, we decided to each contribute $27 per month to our new “memberships” sinking fund. This money is automatically transferred into a high-yield savings account, where we can earn interest and track our progress towards each savings goal. This way, we can budget for these expenses more effectively and avoid any surprises in the future. following sentence in a different way:
The cat quickly ran across the street.
The cat dashed across the street in a hurry.