Have you implemented a sinking fund?

[Suba]

Even though the term sinking fund is rarely used or is less popular, actually sinking funds are a concept of saving that we often practice in our lives. So in simple terms, sinking funds are a type of savings/budget that is intended for a certain purpose and a certain time. For example, preparing funds to get married next year, opening a business, going on holiday, buying a motorbike, etc. So in a sinking fund we have determined the amount of money that must be collected and the time period or how long we can collect the sinking fund.

 

[Starmix]

I had a plan to buy a property but I was robbed by a friend who pretended to be lonely at that time and begged me to sleep at home for one night without thinking that she had a plan to rob me. My huge money in my bank thru my ATM was taken by her last half a million. I now started to save but no thinking on what to do. I just save.

 

[Suba]

I had a plan to buy a property but I was robbed by a friend who pretended to be lonely at that time and begged me to sleep at home for one night without thinking that she had a plan to rob me. My huge money in my bank thru my ATM was taken by her last half a million. I now started to save but no thinking on what to do. I just save.

It's very sad to hear, you were robbed by your own friend, did you report the robbery to the police, because you know the identity of the robber it will be very easy to catch, that's okay, even though currently you are saving for nothing or a sinking fund, it will be useful in the future.

 

[Starmix]

It's very sad to hear, you were robbed by your own friend, did you report the robbery to the police, because you know the identity of the robber it will be very easy to catch, that's okay, even though currently you are saving for nothing or a sinking fund, it will be useful in the future.

The culprit flew to Malaysia that very evening but after one year she was caught by the interpol and was sent back to Philippines. While she was detained in our city I told the police to talk to the suspect but upon knowing of my arrival, the culprit hanged herself in the cell using her belt. She died on the spot. She's ashamed to face me.

 

[Suba]

The culprit flew to Malaysia that very evening but after one year she was caught by the interpol and was sent back to Philippines. While she was detained in our city I told the police to talk to the suspect but upon knowing of my arrival, the culprit hanged herself in the cell using her belt. She died on the spot. She's ashamed to face me.

Woo, it's very sad and terrible, of course this news was published a lot in the newspapers, just because of money she took her own life. That is, money makes people blind, greedy and lose their minds.

 

[Starmix]

Woo, it's very sad and terrible, of course this news was published a lot in the newspapers, just because of money she took her own life. That is, money makes people blind, greedy and lose their minds.

Yes, it was published in our local news paper and was part of the TV news. Thankful my name wasn't mentioned. What a shame people may judge me as dumb .

 

[Augusta]

From your description I think I have been doing this for a long time. You just have to prepare yourself by keeping aside money for different purposes

 

[eLdavis]

I have done this before though back then I was not aware of was actually called a sinking fund.

 

[Augusta]

I know a lot of people have done and are still doing this. People now know the needs to set aside funds for a specific purpose