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Sinking Funds & Why You Absolutely Need It
What is a Sinking Fund & Why You Absolutely Need One in Your Budget Have you ever been sidelined by a big expense that completely wrecked your budget? 👀Maybe it was a car repair, back-to-school shopping, or that annual membership you forgot about. That’s where sinking funds come in – your secret weapon to avoid financial surprises from ruining your plans. What is a Sinking Fund? To put it in the simplest of terms, a sinking fund is money set aside, little by little, for a known, upcoming expense. Examples of sinking funds can be: A sinking fund is different from an emergency fund because it is for planned expenses,…
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Budgeting on an Irregular Income
How We Budget on an Irregular Income If your income changes on a weekly or monthly basis, you’re not alone – and yes you can still budget. Keep reading to see how we budget on irregular income. There are months where the money seems to line up just right. But other months, we sit and cross our fingers and hope the timing works out. That’s the rollercoaster of budgeting – and living – with irregular income. And if you’re living the same type of life, with unpredictable paychecks, you know just how challenging it can be to make a plan that actually works. In our home, we juggle a mix…
Budget for Today. Thrive Tomorrow.
