Des Plaines, IL Naperville, IL Niles, IL Oak Park, IL Oswego, IL Plainfield, IL
Ideal Protein Protocol Ideal Protein Alternatives Keto Diet Weight Watchers
Budgeting For Moms Personal Finance
Cleaning Tips Gardening Tips Travel Tips
Facebook Ads Google AdWords Search Engine Optimization
Arlo Cameras Ring Home Security Smart Home SmartThings
☰

Is it possible to have too many sinking funds?

+3 votes
by (180 points)
Is it possible to have too many sinking funds? I planned for everything back to school, Christmas, birthdays, Thanksgiving and every holiday in between. My total deposit is about $125 a pay day. But I'm wondering if I really need that many
Is it possible to have too many sinking funds?

3 Answers

+2 votes
by (490 points)
 
Best answer
I would say keep it up for the year and when the holidays or event comes up and you don't use them then scratch that sinking fund out and roll your $ to another sinking fund or into savings or make an additional cc payment
0 votes
by (150 points)
Whatever works for you! Budgets are personal, so everyone's will be different!  
+1 vote
by (280 points)
I have sinking funds for Birthday Back to School Christmas Those are my BIG expenses any other holiday to celebrate will come out of weekly spending.  
The Personal Finance Group is where you can always find questions, answers, advice, reviews & recommendations from other community members about investments, budgets, retirement, credit, and personal finances.

Most popular tags

Related questions

+3 votes
2 answers
Is there a max # of “sinking funds” you would suggest I do?
asked Jan 28, 2020 by workday (180 points)
 Powered by Advice.Town
...