SINKING FUNDS | What are they and where to put them?

All about sinking funds!
Sinking funds are one of the best financial habits I started in 2019. I'm going to continue my sinking funds into 2020 and maybe you'll start too!
In this video I break down:
-exactly what sinking funds are and why they're important
-the difference between sinking funds and an emergency fund
-my sinking funds
-other sinking fund ideas
-where to keep your funds and GAIN money on them
Comment down below what your sinking funds are!
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[@ImaniLove94]

Sinking Funds are totally new to me and very exciting! After going through my spending habits I realized how important it is for me to have money saved for Labor Day and Black Friday sales since that is when I buy all of my gifts and the things on my personal wish list. Just hit my first milestone on my emergency fund. Looking for a cute name for my shopping habit sinking fund🏁

[@glennthorstensen5119]

I have never heard of Sinking Funds, I always have a savings fund for something. This was new terminology for me.

[@PersonalFinancewithLeila]

It was a new term to me as well a couple of years ago, but really it's the same thing as a savings for something specific!

[@RockingFinance]

Very nice video, Leila! And great looking channel in general! ✌

[@WatchKeyGlo]

Definitely setting up sinking funds and more in the 2020 year. This video gave me some ideas and possible funds I can create based on where we spend. Thanks!!

[@PersonalFinancewithLeila]

Yay! So exciting. Thank you for watching 😊

[@leticiaperez5541]

So informative. Thank you!

[@PersonalFinancewithLeila]

You're welcome! Thank you for watching! 😊

[@arlenychedebeau9517]

I am definitely contemplating making some sinking funds

[@PersonalFinancewithLeila]

If you have room in your budget then yes!! They're the best.

[@gold9ja]

Excellent video, I started my sinking fund journey just mid 2019 and the 8 I have are in 2 high yielding online savings accounts as well, which has helped me with my budget.

[@PersonalFinancewithLeila]

Yes that's awesome! Thank you so much 😊

[@bradleyvanzile1111]

What steps would be needed setting up at six in front of insurance is involved as far as like medical and dental

[@Jooch87]

All of my funds are sinking 😂

[@PersonalFinancewithLeila]

Lol noo! Speak positively of your money 😊

[@lizastrawberri5473]

Hi. Very informative video. Could you provide a link to the savings account ? Thank you.

[@PersonalFinancewithLeila]

Thank you! 😊 And here it is: www.marcus.com/us/en

[@lizastrawberri5473]

Thank you!

[@julsh9776]

I have a global sinking fund saving account. It is easier to handle but you have to be disciplined.

[@jackiehenry5799]

Good video, but just a small correction. Dave Ramsy recommends $1,000 in the emergency fund to start, then pay off your debt. After that, build 3-6 months of an emergency fund (well over $1,000)