Hey Guys! Today's video is on sinking funds. What are sinking funds? How I have struggled with them in the past, How I currently have them working for me, how we save for them, and a step by step of our sinking fund process. If you are interested in the Qapital App, you get $5 and I get $5 if you use my code: get.qapital.com/GLJFHH1ctX
I love the idea of rotating the focus of and primary contributions to one sinking fund at a time (whichever is upcoming) while still saving a little in the others and then rolling over the primary contributions to the next sinking fund on which to focus. This system makes it SO MUCH less overwhelming and also also makes it easier if you don’t have enough discretionary money to save for them all at once. Thank you 🙏🏽 This is a game-changer for me!!!!
I really like the idea of only adding to a few sinking funds at a time! I was adding tiny amounts to 5 or 6 sinking funds at a time and felt like I was never getting anywhere! Granted, our budget is much tighter than yours, but I think this system will work better for us. Thanks!
Sinking funds are the reason why I have funds saved. I'm so proud of myself. I thanks you for breaking down the two categories in which made me rearrange my categories based upon my household. Now I have a household and car maintenance categories. I'm so thankful I follow you. Keep up the excellent work & informative videos. Great Job Alaina 😊.
My favorite RU-vidr! I get so happy whenever you post a video LOL. I click like before I even watch ha ha. .This video is on point. I started doing some of this when I saw one of your previous videos on it
Again, thank you for breaking this down. I've started working on my finances in the last 2 years and this is a category I wanted to start but my process was not working as good as I wanted it but this break down was a lot more helpful and it either it was more clear than what I've seen before or I am now at a different stage where I was able to understand it better and I got it!! 🤗 I just created my list and will start working on it. I'm sure it may need to be modified but I have a strong starting point. Awesome video. 👌
So glad you explained what Sinking Funds are 😆! I have been saving for those categories for years and did not know it had a name! Thanks for sharing helpful tips on this! 💰
im sooo glad i found your page! i just started my sinking fund this payday and I realized it was quite a huge chunk of my pay. so I love this prioritizing and just minimal saving on the other categories. i love it. thanks for the tips!
I know this video is 3 months old. However, I still feel compelled to let you know this is stellar content. You have such pragmatic approaches. Hope you have a prosperous 2021
I just reworked my sinking funds approach following your video. Girl - a game changer! It feels less overwhelming and allows me to focus. I mapped them out thru 2022.
Thanks you for sharing this!! This helped me a lot. I'm always trying to force too much money to all of my sinking funds every month. I'm going to change my approach now.
You gave an easier way to save for the sinking funds - one at a time. Before I used to save for all of my categories at the same time. It was quite hard to maintain because of insufficient money to put in. One question, in this way of saving your funds, is there a time that you did not have save on a particular category because it is already time for that category to be used? Sorry for my English. I hope you understand what I’m trying to say. Thank you.
Hey! So I’ve been doing it this way for 2 years so I’ve finally got my timing down but I did have to cash flow some of my sinking funds the first year because I ran out of time. The sinking fund still helped because I didn’t have to cash flow the entire amount but it did take time to figure out how much to save to make sure I have exactly what I need.
The Americans do celebrate a way too much. In Europe we also celebrate some things but not in this way. For my sisters birthday I just make a cake and that‘s it. We don‘t have thanksgiving or Halloween.
We celebrate this way because we work a lot and often live far apart, and holidays give us a reason to get together. The Europeans I know talk about how everyone goes on holiday in August, but you don’t see that in the US. Some people here go years without a vacation.
