Targeted Savings:
The Solution for Irregular Expenses
Taught by Dr. Emily Roberts
Does this sound familiar?

You set up a budget and it's humming along for a few months...

You're feeling great about sticking to it...

And then one of the expenses below crops up and completely ruins your budget!
Expenses that occur less frequently than monthly are known as "irregular expenses," and they pose a particular problem for lower earners like graduate students and postdocs because they have limited flexibility in their budgets to cover such expenses in cash.
There is a budgetary solution to this problem, known as "targeted savings" or "sinking funds."

Targeted savings turn large, irregular expenses into small, fixed expense that are easier to write into your budget.
Imagine how much your financial stress level will decrease after implementing targeted savings:
  • No more being blindsided about irregular expenses
  • No more frantic cutting back on spending at the last second
  • No more credit card interest
  • No more agonizing over whether to use your emergency fund for an unexpected expense
  • More optimal allocation of your money for maximum life satisfaction
The concept behind targeted savings is simple:
  • Predict an irregular expense.
  • Calculate a consistent savings rate to save up the amount you need by the time you need it.
  • Designate a savings bucket for the irregular expense, then save the necessary amount every month.
  • When you incur the irregular expense, transfer back the amount of money you need to pay for the expense.
However, actually implementing a system of targeted savings can be a bit tricky, especially when you try to capture all your irregular expenses.
If you want help with this process, consider joining this video course, Targeted Savings: The Solution for Irregular Expenses, which is including with your membership in the Personal Finance for PhDs Community.
I'm ready to join the Community!
What to expect when you join the Personal Finance for PhDs Community:
Targeted Savings: The Solution for Irregular Expenses [Video Training]
  • Clearly illustrates the concept of targeted savings
  • Teaches you how to set up your system, including what to look for in a bank
  • Steps you through a comprehensive process for predicting your irregular expenses
  • Explains how to implement your system and calculate your savings rates, whether you currently have zero savings or significant savings
  • Discusses the interplay between targeted savings and an emergency fund
  • Anticipates and answers the common speedbumps you may encounter when implementing your system
Targeted Savings: The Solution for Irregular Expenses [Custom Spreadsheet]
  • Instructs you in how to brainstorm your irregular expenses
  • Helps you organize, label, and categorize your irregular expenses for easy future adjustments
  • Maps out your upcoming year of irregular expenses and savings rates
The December 2020 Community Challenge: Join the Challenge for accountability to finish creating your system and assistance in overcoming any speedbumps you may encounter.
24/7 access to the Community Conversations Forum, where you can post your questions or discussion topics for quick answers on any topic
An invitation to join a monthly live video call to discuss these topics and ask questions of Emily and the other Community members
All the features of the broader Community (keep scrolling for more information!)
What is the cost?
The fee to join the Personal Finance for PhDs Community, which includes Targeted Savings: The Solution for Irregular Expenses, is $29 per month.
Want a sample of the video course?
To the right is the first module of the course to give you a flavor of the content. There are seven modules in total, plus the custom spreadsheet.
This training is for you if you are:
A PhD or PhD-in-training:
  • Graduate student
  • Postdoc
  • PhD with a Real Job
  • Self-employed PhD
  • Prospective graduate student
In the US as a citizen, resident, or non-resident
Don't spend weeks or months struggling with this on your own, still being blindsided by irregular expenses.

Take the included training and implement targeted savings quickly!
I'm ready to start with targeted savings!
Want to learn about all the OTHER great content
and support 
included with your membership
to the Personal Finance for PhDs Community?
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