Start a Sinking Fund
Money comes and go very swift First thing you need to manage the income wisely. You need to keep a track of incoming and outgoing of your income. if not, you would be out of money by end of the cycle. Most of us will track the amount that we spend regularly each month. This is where a sinking fund comes in. What’s a sinking fund? A sinking fund is something that you have to spend for sure, but it is not a part of your regular spending. Sinking fund necessity pop up once in a while or even just one a year. It is very hard and tough to pay of such necessity bills and expense w ithout maintaining sinking fund. A sinking fund really helps you plan intentionally for the year of spending ahead. Necessity spends like: House repairs/improvements Clothes for growing kids New school uniform and kits Dentist work Birthdays Festivals Holidays A sinking fund help to remove stress and pressure of not having money when something creeps up. We all know the festival season is ahead, you would be ...