What is a Sinking Fund? A sinking fund is a way to save money for a specific purpose (usually an annual expense), by setting aside a certain amount of money each month. The purpose of a sinking fund is to avoid having to come up with large amounts of money for an expense that you
Our 6 month emergency fund is finally fully funded! Almost a year after becoming debt free, we’ve finally completed baby step 3! If you follow the Dave Ramsey plan then you’re already familiar with this step which is to save 3-6 months of living expenses in an emergency fund. Because I’d rather be on the
As we’re nearing the end of 2018, I’ve put together a list of goals I want to reach by the end of the year. Although some of these are pretty achievable, others are going to require some planning and a lot of determination.
I first came across the Zero-Sum Budget while reading the Total Money Makeover by Dave Ramsey. Before then, my idea of a “budget” consisted of checking my bank account to make sure I had enough money to cover my next purchase. Now that I create a monthly budget, I have better control of my finances
Now that I’m in my late twenties, I think back and wonder where I would be financially if I knew then what I know now. I’ve learned so much in the past decade and wish someone would’ve given me some money advice before I got myself into all this debt. Below I’ve listed 10 bits
A week ago today, the front yard and corner of my apartment unit was caught on fire. It was an accident caused by the landscapers who were trimming our palm trees. Somehow one of their chainsaws threw a spark and set a huge pile of dry palm tree leaves on fire, blocking both exits from
Since starting this debt payoff journey, I’ve put much thought into what I’m spending my money on. I realized that although I don’t consider myself a spender, there are a few areas where I can cut expenses and use that money towards debt payoff instead. Here are a few things I’ve decided to give up
I currently work in an architecture firm and although I love my job, I can’t help but constantly think of new ways I can earn more income. I am really motivated to pay off my debt and I know that the only way to get there faster is to side hustle and create more sources
There are hundreds of personal finance apps to that help you keep track of your money and bills. I’ve been through a few, some more complicated than others. Below I will list a few apps I rely on to keep me on track of my bills and debt payoff journey.