https://www.moneyinfant.com/sinking-fund/ Baby Steps to Financial Freedom Wed, 23 Jul 2014 06:20:13 +0000 hourly 1 https://wordpress.org/?v=3.6 https://www.moneyinfant.com/sinking-fund/comment-page-1/#comment-1573 Money Infant Fri, 17 Feb 2012 00:54:05 +0000 https://www.moneyinfant.com/?p=302#comment-1573 I agree, they are a huge help in avoiding high interest credit card debt. I’ve also found that as the savings increase it can motivate you to save more and reach your goal faster.

]]> https://www.moneyinfant.com/sinking-fund/comment-page-1/#comment-1564 Modest Money Thu, 16 Feb 2012 17:48:02 +0000 https://www.moneyinfant.com/?p=302#comment-1564 I think sinking funds are especially important for people who have the tendency to just put big purchases on credit. In the long run they end up paying far more as the interest starts racking up. A sinking fund actually helps motivate you to save more as you can watch your savings grow as you get closer to your goal. I’ve used it for a car down payment in the past and now I have one going for a mortgage down payment.

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