Comments on: How to Create Sinking Funds http://deliverawaydebt.com/budgeting/how-to-create-sinking-funds/ Mon, 14 May 2012 16:54:06 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: mary http://deliverawaydebt.com/budgeting/how-to-create-sinking-funds/comment-page-1/#comment-16080 mary Sat, 05 May 2012 01:30:05 +0000 http://deliverawaydebt.com/?p=1381#comment-16080 Love the lesson. Will definitely help alleviate anxiety I have with a single account and lots of transactions buzzing around. This will also prevent unexpected charges from overdrawing the main account. Will start with current month as I get paid then will put a little extra in with hopes of always paying this months bills from last month's money. That would be some financial peace! Btw, I like perkstreet better than ING. Love the lesson. Will definitely help alleviate anxiety I have with a single account and lots of transactions buzzing around. This will also prevent unexpected charges from overdrawing the main account. Will start with current month as I get paid then will put a little extra in with hopes of always paying this months bills from last month’s money. That would be some financial peace! Btw, I like perkstreet better than ING.

]]> By: vbaker http://deliverawaydebt.com/budgeting/how-to-create-sinking-funds/comment-page-1/#comment-16078 vbaker Thu, 03 May 2012 02:55:23 +0000 http://deliverawaydebt.com/?p=1381#comment-16078 isnt' this like an emergency fund?? isnt’ this like an emergency fund??

]]> By: mak http://deliverawaydebt.com/budgeting/how-to-create-sinking-funds/comment-page-1/#comment-15849 mak Mon, 20 Feb 2012 02:05:31 +0000 http://deliverawaydebt.com/?p=1381#comment-15849 Hi Jeffrey, I just stumbled on this after searching sinking funds. I recently learned about them in my math class, (they are much more lovely in my math books with examples of 6% interest over 20 years etc. lol) but my question is this...... I am on a very tight budget. If I were to use your utility example as my own I would need to deposit 395 dollars per month into the account. What about the current months payment.... and the fact that 395.00 extra on top of my bills will overdraw my paychecks. When do you start using the money to pay the utility company for example?-right away, a year after starting the fund? And if you pay right away from the fund how does it accumulate? If you wait the full year to pay the utility company from this account then how do people pay the current amount and also build up the sinking fund? I am a little confused on that area. thanks Hope this blog still exists. mak Hi Jeffrey,
I just stumbled on this after searching sinking funds. I recently learned about them in my math class, (they are much more lovely in my math books with examples of 6% interest over 20 years etc. lol) but my question is this…… I am on a very tight budget. If I were to use your utility example as my own I would need to deposit 395 dollars per month into the account. What about the current months payment…. and the fact that 395.00 extra on top of my bills will overdraw my paychecks. When do you start using the money to pay the utility company for example?-right away, a year after starting the fund? And if you pay right away from the fund how does it accumulate? If you wait the full year to pay the utility company from this account then how do people pay the current amount and also build up the sinking fund? I am a little confused on that area.
thanks
Hope this blog still exists.
mak

]]> By: Using a Mortgage Sinking Fund to Save for Early Payoff http://deliverawaydebt.com/budgeting/how-to-create-sinking-funds/comment-page-1/#comment-15081 Using a Mortgage Sinking Fund to Save for Early Payoff Tue, 27 Sep 2011 15:34:51 +0000 http://deliverawaydebt.com/?p=1381#comment-15081 [...] those unfamiliar with the concept of a sinking fund, let me first explain the idea. A sinking fund, in personal finance terms, refers to a dedicated [...] [...] those unfamiliar with the concept of a sinking fund, let me first explain the idea. A sinking fund, in personal finance terms, refers to a dedicated [...]

]]> By: Dave http://deliverawaydebt.com/budgeting/how-to-create-sinking-funds/comment-page-1/#comment-13467 Dave Mon, 04 Jul 2011 18:06:23 +0000 http://deliverawaydebt.com/?p=1381#comment-13467 Great post. One thing to consider is that Capitalone has purchased ING and I bet they will screw it up like they did to Chevy Chase Bank. Time to look for another ING substitute. Have a great 4th! -Dave Great post. One thing to consider is that Capitalone has purchased ING and I bet they will screw it up like they did to Chevy Chase Bank. Time to look for another ING substitute.

Have a great 4th!

-Dave

]]> By: USAA is Giving Away a Car! http://deliverawaydebt.com/budgeting/how-to-create-sinking-funds/comment-page-1/#comment-9752 USAA is Giving Away a Car! Tue, 05 Oct 2010 09:41:08 +0000 http://deliverawaydebt.com/?p=1381#comment-9752 [...] has some tips on creating a sinking fund. These are great for both short and long term [...] [...] has some tips on creating a sinking fund. These are great for both short and long term [...]

]]> By: Weekend reading: Money Mavens http://deliverawaydebt.com/budgeting/how-to-create-sinking-funds/comment-page-1/#comment-9209 Weekend reading: Money Mavens Sat, 11 Sep 2010 10:57:49 +0000 http://deliverawaydebt.com/?p=1381#comment-9209 [...] Deliver Away Debt explains the concept of a sinking fund. [...] [...] Deliver Away Debt explains the concept of a sinking fund. [...]

]]> By: Sinking Fund | The Debt Destroyer http://deliverawaydebt.com/budgeting/how-to-create-sinking-funds/comment-page-1/#comment-9045 Sinking Fund | The Debt Destroyer Tue, 07 Sep 2010 07:16:51 +0000 http://deliverawaydebt.com/?p=1381#comment-9045 [...] If you’d like to READ more about Sinking Funds, this is a post I wrote about how to set up a sinking fund. [...] [...] If you’d like to READ more about Sinking Funds, this is a post I wrote about how to set up a sinking fund. [...]

]]> By: The Debt Destroyer | The Overview http://deliverawaydebt.com/budgeting/how-to-create-sinking-funds/comment-page-1/#comment-8222 The Debt Destroyer | The Overview Thu, 19 Aug 2010 14:11:35 +0000 http://deliverawaydebt.com/?p=1381#comment-8222 [...] Sinking funds are the rocket boosters that make the Debt Destroyer simple, fast, and easy.  Just think of a sinking fund as a place holder for your money.  An electronic envelope if you will.  Money gets allocated to the fund through a deposit, and bills are paid through with the fund.  All records are retained in one location, any cash flow questions can be quickly answered by reviewing each fund (account). [...] [...] Sinking funds are the rocket boosters that make the Debt Destroyer simple, fast, and easy.  Just think of a sinking fund as a place holder for your money.  An electronic envelope if you will.  Money gets allocated to the fund through a deposit, and bills are paid through with the fund.  All records are retained in one location, any cash flow questions can be quickly answered by reviewing each fund (account). [...]

]]> By: Wells Fargo Charges a Fee to Make Transfer to Another Bank http://deliverawaydebt.com/budgeting/how-to-create-sinking-funds/comment-page-1/#comment-3984 Wells Fargo Charges a Fee to Make Transfer to Another Bank Tue, 08 Jun 2010 12:05:12 +0000 http://deliverawaydebt.com/?p=1381#comment-3984 [...] I may end up keeping our sinking fund accounts right at Wells Fargo, earning practically [...] [...] I may end up keeping our sinking fund accounts right at Wells Fargo, earning practically [...]

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