July 14, 2019

Set up a sinking fund for future fun

Ever get that sinking feeling that you wish you’d saved up extra dollars to pay for a wish list purchase, overdue vacation, birthday present, or other special expense? It’s never too late to avoid such regrets and salt away money for a fun or needed goal. You simply need to set up a sinking fund.

What is a sinking fund? It’s simply a fund you create in which money is strategically saved over time that will be used to pay for one or more large planned purchases or expected expenses in the future. It allows you to salt away dollars, often toward things that you want — not necessarily need or have an urgency to purchase right away — ideally without stress or remorse.

Learn more about how a sinking fund can help you save for future expenses by reading my first article for new client AmOne.com, available here.