Trying To Use SINKING FUNDS? Here's How To Do It In 2023.

Are you trying to use sinking funds his year? Well in this video I'll be outlining how you can use sinking funds allowing you to save more money!

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If you're looking to save more money this year sinking funds may be the way to go! In this video I'm giving you my top tips on where you can start when it comes to creating and saving up for sinking funds. Sinking funds basically help you to save up for expenses overtime, without having to consistently pay out of your paycheck or dip into your other savings. Creating sinking funds can be great when it comes to building a key foundation whilst saving and building wealth, so it's something I'm passionate about! Some of the examples are UK based, however this can also apply to many countries too.

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I'm the typical Millennial who previously spent everything she made (though it wasn't much), but decided to pursue financial freedom - something the schools should've taught us!

I believe everyone has the capability to be financially free, whether you're an Entrepreneur or an Employee. My goal is to help you realise that you can achieve anything you put your mind to!

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DISCLAIMER PT 2: Please note I am not a Financial Advisor or Employment Lawyer. The content presented in this video are personal opinions and for entertainment purposes only. You are responsible for the financial decisions you make!

[emilyatherton]

Great video! I love how you're moving around your camera angles - very engaging!

[kmg]

Such a helpful video thank you!
My sinking funds have been carried over from last year e.g my children's birthdays's, water bill, council tax etc. But need to add a few more such as something for school holidays to cover trips, meals etcx

[leanne]

A new subscriber here I am so glad I found you. I am learning to drive this year but I'm not needing to buy a car for a few years as the plan is that me and my hubby will share the car we have. I have started a sinking fund to buy a car of my own in a few years when we move home and I have started a second job to make sure that I have that income. The money is going straight into my car fund because luckily I don't need it for everyday expenses.

[intergratedpurgatory]

Love this video. I LOVE sinking funds, they have helped me change my mindset to money. I am much more intentional with my money.

[helenbell]

Great explanation Veronia. I fully understand it now. It was the 'how much to put in each pot when each sinking fund is due at different times' that was throwing me. I get it now. Thank you. Great video. I'm now a subscriber xx

[jennyolatunji]

So helpful Veronia thanks I think this is one of my favourite videos of yours!

[sherry]

How do you determine how much to put aside

[valsmith]

I’ve got sinking funds for Christmas and birthdays, I should probably have one for clothes too!

[elaibesummers]

Great video. I had a sinking fund account with a pot of money. To be honest in the end it did not work for me. I only have a small amount of money left in the pot. I am going to go back to setting up individual sinking funds. Can you confirm where you hold your sinking pots? I found that my bank does not give access to more than a certain amount of individual pots.