Comments on: How to Save Money Using Sinking Funds https://www.moneypeach.com/how-to-save-more-money-with-sinking-funds/ Clear A Path To Financial Freedom. Thu, 03 Sep 2020 01:53:57 +0000 hourly 1 https://wordpress.org/?v=6.4.5 By: cat https://www.moneypeach.com/how-to-save-more-money-with-sinking-funds/#comment-1640 Fri, 29 Mar 2019 22:25:25 +0000 https://www.moneypeach.com/?p=150#comment-1640 I have listened to about 60% of all your podcasts. Fantastic content! Started my sinking fund today after I reworked our monthly budget!

]]> By: Martin https://www.moneypeach.com/how-to-save-more-money-with-sinking-funds/#comment-1639 Wed, 27 Mar 2019 06:24:11 +0000 https://www.moneypeach.com/?p=150#comment-1639 Great, Seeking fund is one of the best ways to save your fund every month. You can create one account for all of your sinking funds you just need to manage spreadsheet to track how much money you have put in for each item.

]]> By: Papa Foxtrot https://www.moneypeach.com/how-to-save-more-money-with-sinking-funds/#comment-1638 Thu, 07 Mar 2019 02:50:05 +0000 https://www.moneypeach.com/?p=150#comment-1638 I have three separate savings accounts, one is an emergency fund, never touch unless it is an emergency, one is an investment, house, car savings, the other is for urgent matters, quite literally I pull money out for anything that is needed including repairs. This is good insights, keep it up.

]]> By: Peach https://www.moneypeach.com/how-to-save-more-money-with-sinking-funds/#comment-1637 Sun, 10 Jan 2016 23:53:18 +0000 https://www.moneypeach.com/?p=150#comment-1637 In reply to Mariana.

I wasn’t aware of Netspend, but now you are going to have me looking at it 🙂 THanks Mariana for the comment and for the head up!

]]> By: Paulina https://www.moneypeach.com/how-to-save-more-money-with-sinking-funds/#comment-1636 Tue, 29 Dec 2015 21:51:24 +0000 https://www.moneypeach.com/?p=150#comment-1636 Thanks for all the info Chris! I am already budgeting for dear life. Though I would love to set up a sinking fund, there is no such thing where I live (Chile)…got any ideas of an alternative for expats who are not American? I do not have an account in my home country (Sweden) either as I have been living down here for over 30 years. Thanks again!

]]> By: Mariana https://www.moneypeach.com/how-to-save-more-money-with-sinking-funds/#comment-1635 Fri, 25 Dec 2015 17:07:49 +0000 https://www.moneypeach.com/?p=150#comment-1635 Nice post. I often wondered if it’s worth the hassle to juggle multiple accounts but you make a good argument for it.
Speaking of savings. I just heard about the Netspend savings account, which gives you 5% interest (up to $5000, then 0.5% on anything above that). Do you know anything about it? From what I understand, it can be fee free if you follow specific steps, the only bad thing is that their customer service stinks. Just wondering if you had any thoughts on it.

]]> By: Peach https://www.moneypeach.com/how-to-save-more-money-with-sinking-funds/#comment-1634 Sun, 02 Aug 2015 20:53:23 +0000 https://www.moneypeach.com/?p=150#comment-1634 In reply to Ryan.

Ryan!

Thanks for sharing buddy! Sinking Funds are a game changer and will help you w/ your Debt Snowball as well. Nice work my man! 🙂

]]> By: Ryan https://www.moneypeach.com/how-to-save-more-money-with-sinking-funds/#comment-1633 Fri, 31 Jul 2015 10:37:42 +0000 https://www.moneypeach.com/?p=150#comment-1633 Peach,

Because of you I started using the Capital One 360 account a few years ago. It’s where my emergency fund is and several other sinking funds are. The main savings account gets a .75% interest rate as well and compounds monthly I think, which is way better than a regular savings account from a bank. I’m still working at paying off credit debt and it is a constant battle, but I know I will win and will too be “living like no one else”. I estimate I’m still a few years from becoming debt free. The sinking funds definitely help budget for things that come up throughout the year, especially Christmas and vacation.

Thank you Buddy

War Eagle!

]]> By: Carol https://www.moneypeach.com/how-to-save-more-money-with-sinking-funds/#comment-1632 Tue, 21 Apr 2015 01:55:50 +0000 https://www.moneypeach.com/?p=150#comment-1632 In reply to Peach.

Yep I am sticking to my new budget, I want to save more money because I will feel better about myself and I want my kids to know that I left them something besides my life insurance policy for them. Thank you for the information about the savings plan for Anthony. I will definitely look into it. Like I said he works full time and is actually outgrowing some of the developmental disability, but I want to make sure 100 percent that he will always have something to fall back on when I am gone.

Next question I hope you can answer, where is the best place to get a will drawn up? I seriously don’t know. I know I can get forms online, but I have some specific instructions of what I want done after I am gone.

]]> By: Peach https://www.moneypeach.com/how-to-save-more-money-with-sinking-funds/#comment-1631 Mon, 20 Apr 2015 03:35:54 +0000 https://www.moneypeach.com/?p=150#comment-1631 In reply to Carol.

Carol,

Good for you! Doing your budget and sticking to it will help you reach your goals. If you fail to plan, then you are planning to fail. Be proud of yourself for taking this first step. As for your “Anthony Fund”, were you aware there is a tax-favored savings plan for disabled children that was signed into law by the President in December 2014? The act is called the “Achieving a Better Life Experience Act” or ABLE, and it is referred to as a 529-ABLE-account. It is similar to a 529-college-savings-plan, but the money can be used for future financial needs of disabled children. Click here for the link to read more in an article from Kiplinger Personal Finance: https://www.kiplinger.com/article/saving/T042-C000-S002-savings-plans-for-the-disabled.html

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