Getting Comfy with Your Money

Chapter 4:
How Income Companion Works
Sinking Funds Page

The Sinking Funds page is where you add set-aside schedules for when you want to “save up” for something.

There is no limit to the number of sinking funds that you create in the open budget space.

To add a sinking fund:

  1. Enter a descriptive name.
  2. Enter the goal amount of money.
  3. Pick the pay bills date on which to start setting aside money.
  4. Choose to set aside money on the 1st, 15th or both.
  5. Enter the date when you will be using the money.

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Income companion calculates:

  • how many times money will be set aside;
  • each set-aside amount.

The set-aside schedule is listed on the Sinking Funds page and automatically included in your Incredibly Cool Budget on the Look Ahead page.

The money that has been set aside in a sinking fund can be left in your checking account indefinitely. When you are ready to use part or all of a sinking fund, you can use these options on the Cash Reservoir page:

  • move the money from the sinking fund ledger, or
  • write a check.

If the sinking fund is linked to a bill or credit card, the money in the sinking fund will automatically be used for scheduled payments.

2 Good Software

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