The sinking funds challenge..........
[Deleted User]
Posts: 0
Newbie
Sinking funds is something I have been doing for a while without actually knowing that it even had a 'name'!
A sinking fund is just a fancy economic term for savings
Instead of putting money in a savings account for a rainy day or an emergency fund sinking funds is when you know ;
a) the purpose of the savings
b) the amount you need to save in total
c) the amount you need to save each month in order to reach the goal
I love this idea & I sink funds for 6 different purposes each month.
I will start off my sinking funds in the next post & if anyone else wants to join in then feel free.
Dxxx
A sinking fund is just a fancy economic term for savings
Instead of putting money in a savings account for a rainy day or an emergency fund sinking funds is when you know ;
a) the purpose of the savings
b) the amount you need to save in total
c) the amount you need to save each month in order to reach the goal
I love this idea & I sink funds for 6 different purposes each month.
I will start off my sinking funds in the next post & if anyone else wants to join in then feel free.
Dxxx
0
Comments
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Work Menage - £50.00 per month
Rome - £25.00 per month
Work Xmas - £25.00 per month
Festive funds - £40.00 per month
£365 in 365 days - £31.00 per month
Niece 18th - £25.00 per month
Mum 65th - £25.00 per month
Sis & kids holiday - £25.00 per month0
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