Shownotes
In this episode, we delve into the topic of sinking funds and how they can benefit you financially. Sinking funds serve as a means to save money over time for unexpected expenses, such as vet bills, car repairs, medical expenses, and annual subscriptions. It is important to note that sinking funds are separate from emergency funds, which are designed to cover living expenses in case of job loss. By incorporating sinking funds into your financial plan, you can effectively plan and prepare for unforeseen expenses without having to dip into their regular budget.
In this episode I share:
- What is a sinking fund?
- Practical strategies for sinking funds to save money
- How to escape debt with these funds
- How to use sinking funds to help you get to financial freedom
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