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Episode 2535:
Vicki Cook and Amy Blacklock's insightful guide on sinking funds clarifies how they can stabilize your financial planning. By saving in small amounts for specific purposes, sinking funds help you handle anticipated expenses without disrupting your monthly budget or resorting to debt, enhancing both your financial health and peace of mind.
Read along with the original article(s) here: https://womenwhomoney.com/what-are-sinking-funds-are-they-smart-to-have/
Quotes to ponder:
"Sinking funds help prevent you from busting your monthly budget. Or taking on more debt for expected – but not regular monthly expenses."
"A sinking fund is used for short-term savings goals for expenses you expect to have but are not a part of your regular monthly spending."
"Shifting from reactive spender to proactive saver will improve your financial house and lessen your financial stress."
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Optimal Finance Daily - Financial Independence and Money Advice