sink·ing fund ˈsiNGkiNG ËŒfÉ™nd/ noun plural noun: sinking funds a fund formed by periodically setting aside money for the gradual repayment of a debt or replacement of a wasting asset. I have not been doing the Dave Ramsey plan long enough to really give my testimonial on the idea of a sinking fund, but what I can share is what categories I have decided to save for! From what I do know I believe my categories are a little different for my family because we are not homeowners, when you own a home you could have other expenses arise that I, as a renter, would not be responsible for. Currently I have 6 sinking funds: MEDICAL ANNIVERSARY BIRTHDAY CHRISTMAS RANDOM GIFTS EYEBROWS Ok, weird? Maybe. Let me explain. MEDICAL Lucky for me, my health insurance is pretty good so I personally have never had an experience where I owed a lot of medical bills after a doctor visit (With that being said, my ...
Hi, my name is Kady and I'm on a journey to be debtfree!