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Budgeting for regular bills and monthly necessities is helpful, but what about those expenses that only come occasionally? Irregular expenses can be hard to plan for, but a sinking fund can help.
A sinking fund helps you save for an irregular, but planned, expense over time. Rather than taking on debt or dipping into your emergency fund, sinking funds encourage you to save a little bit each month for that upcoming vacation, wedding, or major purchase.
Continue reading to learn more about sinking funds, how they work, and how to create one.
A sinking fund is a tool to help you save for irregular expenses over time. Like other line items on your budget, you allot a specific amount of money each month for your sinking fund. But instead of spending that money each month, the fund grows over time until you're ready to spend it.
#save #time #Help
Budgeting for regular bills and monthly necessities is helpful, but what about those expenses that only come occasionally? Irregular expenses can be hard to plan for, but a sinking fund can help.
A sinking fund helps you save for an irregular, but planned, expense over time. Rather than taking on debt or dipping into your emergency fund, sinking funds encourage you to save a little bit each month for that upcoming vacation, wedding, or major purchase.
Continue reading to learn more about sinking funds, how they work, and how to create one.
A sinking fund is a tool to help you save for irregular expenses over time. Like other line items on your budget, you allot a specific amount of money each month for your sinking fund. But instead of spending that money each month, the fund grows over time until you're ready to spend it.
#save #time #Help
1 month ago
