Sinking Funds: What Are They and How to Create One
If you’re thinking “What the heck are sinking funds?” you’re at the right place. I know it’s kind of a weird name – but trust me, it’s a smart and strategic savings approach that you want to know about. At the end of this post you will be wondering why in the world you haven’t built it into your budget yet, because YES, it’s that amazing. What are sinking funds? Simply put, a sinking fund is a strategic way to save money for an expected future expense by intentionally setting …