What is a Sinking Fund? - Sinking Funds Explained

Today we go over what a sinking fund is and how to use them effectively. Sinking funds can help you keep away from credit cards and getting into more debt. Sinking funds can be for small goals or large ones. This video will explain what a sinking fund is when it comes to budgeting your money. Let me know in the comment section down below, do you have a sinking fund or two? Thank you for watching.

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DISCLAIMER: Denis Trufin, including but not limited to any guests appearing in his videos, are not YOUR financial/investment advisors, brokers, or dealers. They are solely sharing their personal experiences and opinions; therefore, all strategies, tips, suggestions, and recommendations shared are solely for entertainment purposes. There are financial risks associated with investing, and Denis Trufin's results are not typical; therefore, do not act or refrain from acting based on any information conveyed in this video, webpage, and/or external hyperlinks. For financial or investment advice please seek the counsel of a financial/investment advisor(s), and conduct your own due diligence.

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[gloriamondragon]

I just discovered your channel. Amazing. I'm a new financial coach & you share so much knowledge. Thank you! A couple of sinking funds that I now need to have is one for our HOA & one for our city's waste management that happens quarterly. I had to learn this the hard way when I moved to a new state & a new home (womp, womp).

[SchoolofPersonalFinance]

Good video! You can also save hundreds every year by paying your insurance annually instead of monthly... so use a sinking fund throughout the year to pay annually.

[paulawisor]

1. A new car
2. Vacation
3. Car Insurance
4. Christmas

For now, that is. Also looking ahead to starting one for the annual half cow we buy and probably a car maintenance fund. Oh, and home maintenance. This could go on and on...lol.

[milkbread]

This was so helpful and easy to understand by getting to the point and using illustrations :)
THANK YOU!

[TheBudgetBounce]

We have a lot of different funds with Capitol One 360: vehicle repair/replace, pet care, Amazon prime, travel (except vacation), Christmas, clothing, life insurance, utilities, and school for the kiddo, and vacation.

[nisey]

Christmas, School, Vacation, Birthday's, Car Maintenance

[fashiondina]

Thanks for this video! This pandemic has helped me become more financially aware.

[tanmaybarate]

Great explanation...just let me know how investor profits from sinking funds of large cooperation 🤔?

[PMAngst]

Hey, there! Thank you for this very knowledgeable yet concise content about Sinking funds. You have my big thumbs up and sub! Can you also discuss credit. card. debt and strategies on how to minimize it?

[thomasthorne]

Another ' type ' cash reserve folks need is an emergency fund for hospital cost and such. Sinking Funds ate INDEED for those big upcoming purchases you KNOW is gonna happen.

[vivianagonzalez]

Vacation, pet care, car maintaince,

[hrcubsgirl]

Great video. I have one for my 🐶, groomers vet bills food etc. vacation fund, Xmas fund, car maintenance.