Sinking Funds for Beginners | How to Set Up Sinking Funds | Sinking Funds Explained

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  • Опубликовано: 24 дек 2024

Комментарии • 124

  • @crystalarchuleta7659
    @crystalarchuleta7659 3 года назад +82

    Sinking funds can also evolve. When I first started I had 6 or so now it has doubled. My sinking funds have totally helped me with my budget. My son will graduate in 2 years and I’m already saving for that in my sinking fund. Christmas is already near its goal. 400 more to go and that’s done. No stress no worries because you have the funds. I’m a single mom with a low income and this method has helped me be more conscious of where my money is going and how I spend it. Great video.

    • @MonetsMoney
      @MonetsMoney  3 года назад

      That’s amazing! You are doing so great, Congrats! I love to hear the great stories that someone else has gained from this method. Thank you ❤️

  • @Vikshay
    @Vikshay Год назад +19

    Honey you are the ONLY person I understood and I’ve been watching videos like this off and on the last two years. Thank you so much

    • @MonetsMoney
      @MonetsMoney  Год назад +2

      You are so welcome! Glad it was helpful ☺️

  • @JackieBudgets
    @JackieBudgets 3 года назад +19

    I ❤️ my sinking funds! I want MANY but our budget want allow. 😒 I need one for electronics though. Great video Monet!

    • @MonetsMoney
      @MonetsMoney  3 года назад

      I know the feeling. I could use that as well. Thank you ❤️

  • @BudgetWithJeanette
    @BudgetWithJeanette 3 года назад +21

    Such a clear and simple way of explaining sinking funds. No fluff, straight to the point with examples. Loved the video as always Monet 🌷💜

  • @NikkiSapien
    @NikkiSapien 2 года назад +3

    I have never heard of sinking funds but thanks to your video now I do and now I can better prepare, thank you so much 🙏🏼

  • @budgetwithlidy5799
    @budgetwithlidy5799 3 года назад +14

    I love these types of videos!! You explain everything so well, the editing is on point, your voice is so clear and direct. Great video! 👍🏼🤗

  • @jeneanfortson6434
    @jeneanfortson6434 3 года назад +4

    Thank you for explaining what sinking funds are. I now have better understanding of it.

    • @MonetsMoney
      @MonetsMoney  3 года назад

      Glad it was helpful. Thank you ❤️

  • @operalove7221
    @operalove7221 3 года назад +8

    This is my second time watching this. I took notes 📝 Great video. You're a really good teacher and you explain everything so clearly. Thank you so much Monet 🤗😊

    • @MonetsMoney
      @MonetsMoney  3 года назад +1

      Wow, thank you so much! That’s so nice of you to say and I appreciate that ❤️

  • @MindYourMoney
    @MindYourMoney 3 года назад +4

    Great video Monet!! Sinking Funds are truly budget savers! We strayed with 3 and worked out way up to 10. It gets easier the more we consistently budget. You hit the 🎯 with this video!!

    • @MonetsMoney
      @MonetsMoney  3 года назад

      I agree it does get easier. Thank you ❤️

  • @TaylorBudgets
    @TaylorBudgets 3 года назад +4

    This video was so easy to follow and articulated very well! You did a great job!!!!

  • @EmilyDowgialo
    @EmilyDowgialo 3 года назад +8

    You’re killing it, this was amazing!

  • @tanyatee5174
    @tanyatee5174 3 года назад +9

    This video was on time. I was just explaining the envelope system to a friend of mine. Your video was very well explained so I shared the video with him. Thank You! ❤

    • @MonetsMoney
      @MonetsMoney  3 года назад +1

      That’s amazing, glad I could help. Thank you for watching ❤️

  • @elissshapingup
    @elissshapingup 3 года назад +11

    Thanks for this video, Monet! You're such a great teacher! I have yet to implement sinking funds in my budget. I really should add sinking funds because every time something happens I dip into my emergency fund and I feel like I'm always replenishing that money.
    The video idea I had for you is to show us how you set up your binder/wallet/envelope system, with all the products you use to make your system work for you.
    I was also thinking that maybe you could have some sort of series name where you go more in depth like you did in this video. Perhaps something like, teachable moments or digging deeper. It doesn't have to be those of course but something that we'll know by the title if you look back in your videos or look for a playlist that this is a different series than your normal videos. Just an idea, no pressure of course!

    • @MonetsMoney
      @MonetsMoney  3 года назад +3

      I appreciate the suggestions. I’ll take note of this and see what I can come up with. Thank you ❤️

  • @elainedavis4226
    @elainedavis4226 3 года назад +12

    Another great video Monet. I loved the visuals and the concise way you explained everything. Thank you for all that you do to help others! May you continue to be blessed as you help others with their journey.

  • @Jotique
    @Jotique Год назад

    Thank you for explaining what sinking funds are. I ordered 2 binders from temu and get them today!!!! I will create my funds later. I am on my way to financial freedom!!!

  • @fruitbowlk
    @fruitbowlk 3 года назад +1

    Great video. I'm working on my sinking funds now.

    • @MonetsMoney
      @MonetsMoney  3 года назад

      That’s amazing! Congrats and good luck ❤️

  • @tamikajones6970
    @tamikajones6970 3 года назад +4

    Excellent explanation and how to get one month ahead on bills would be a good topic to discuss for the next video in this series. Sinking funds are a lifesaver and a game changer.

    • @MonetsMoney
      @MonetsMoney  3 года назад

      That’s a great idea, thank you for the suggestion ❤️

    • @tamikajones6970
      @tamikajones6970 3 года назад

      You are welcome and thank you ☺ Have a great weekend Monet!

  • @DaniByNature
    @DaniByNature 3 года назад +8

    This was explained so well. Great video!

  • @DearDebt
    @DearDebt 3 года назад +3

    Awesome video Monet! Sinking funds are crucial!

    • @MonetsMoney
      @MonetsMoney  3 года назад

      Yes I 100% agree. Thank you ❤️

  • @AmberU
    @AmberU 8 месяцев назад

    Stumbled upon your content and by far the most concise well explained content related to budgeting so far! Im binge watching all the beginner videos.

    • @MonetsMoney
      @MonetsMoney  8 месяцев назад +1

      Thank you so much! I’m glad you are enjoying and appreciate the support 🤗❤️

  • @TF-te7gi
    @TF-te7gi 3 года назад

    I have been so confused when watching videos, and this term was thrown around. I have not found one video that explained it as well as you have. So clear and simple. I'm just starting my budgeting journey and I will be watching every one of your videos. Thank you!

    • @MonetsMoney
      @MonetsMoney  3 года назад

      Thank you so much! I’m glad I can help and I try to always make things as clear as possible ❤️

  • @HajraUmmiof3
    @HajraUmmiof3 11 месяцев назад

    You explained this very well, actually budgeting certain sinking funds categories, new subbie ❤

    • @MonetsMoney
      @MonetsMoney  11 месяцев назад +1

      Glad it was helpful! Welcome to the family 🤗

  • @blessedbeyond1986
    @blessedbeyond1986 3 года назад +1

    Your video really help me to understand sinking Funds much better. ❤❤❤

    • @MonetsMoney
      @MonetsMoney  3 года назад

      Glad to hear it! Thank you ❤️

  • @DRUMLINERGURL12
    @DRUMLINERGURL12 3 года назад +2

    Great video. Thank you for explaining. And the visuals it makes it more understandable and easy to start, this video will surely help my daughter start. 🥰🥰

    • @MonetsMoney
      @MonetsMoney  3 года назад

      That’s so great to hear. Thank you ❤️

  • @carlasbudget4018
    @carlasbudget4018 3 года назад +2

    Simple and clear, thank you!

  • @Lifewithmrsvee
    @Lifewithmrsvee 3 года назад +1

    Great video explaining sinking funds. I get the same questions often.

  • @melaniegiddings7671
    @melaniegiddings7671 3 года назад +1

    You are awesome this was so clear and easy to understand!!

    • @MonetsMoney
      @MonetsMoney  3 года назад

      Glad to hear! Thank you ❤️

  • @TheAmyb99
    @TheAmyb99 10 месяцев назад

    Hi Monet! I’m really happy I came across your video in my RUclips feed today! I am just beginning my cash stuffing process and I found the information in your videos very helpful!

    • @MonetsMoney
      @MonetsMoney  10 месяцев назад

      I’m glad you enjoyed the video. Happy I can help and wishing you much success! 🤗

  • @Portia1416
    @Portia1416 2 года назад

    This was SO helpful! Thank you! Can you do a video explaining how to do a budget when you have a business and never know how much money you will be making any given month? I struggle to budget when I never know when money will be coming in. It varies week by week.

  • @catherine4339
    @catherine4339 3 года назад +2

    Brilliant as always 😊

  • @reemalsaffar9503
    @reemalsaffar9503 3 года назад +1

    Thank you for the video ❤️ great and helpful video 😍 All the best ❤️

  • @katresealexander1311
    @katresealexander1311 3 года назад +1

    Great video Monet

  • @kimhagan6808
    @kimhagan6808 3 года назад +2

    Great job!

  • @WGN2025
    @WGN2025 3 года назад +1

    Thanks for explaining. Good job!

  • @chaniyaschronicles3921
    @chaniyaschronicles3921 3 года назад +2

    Yesss I love this great video

  • @writethevisionplan
    @writethevisionplan 3 года назад +1

    Wonderful video and explanation💜 love my sinking funds

    • @MonetsMoney
      @MonetsMoney  3 года назад

      I love mine too. Thank you ❤️

  • @svmmerrainb2534
    @svmmerrainb2534 3 месяца назад

    Omg thank you so much. This is the only video that actually made sense ❤😊

  • @ZoeysMusings
    @ZoeysMusings 3 года назад +1

    You're an excellent teacher. Very informative and straightforward video 👏🏽

  • @relaxvideos8742
    @relaxvideos8742 2 года назад

    I like this video as well as several other videos you have on your channel

  • @R_D_366
    @R_D_366 3 года назад +3

    Excellent!

  • @karenpearson9072
    @karenpearson9072 3 года назад +1

    Well explained, great video Monet… keep up the great job

  • @christinakellagher7594
    @christinakellagher7594 Год назад

    Thank you Monet! Great info. and easy to follow 💖

  • @rolliecrafts255
    @rolliecrafts255 Год назад

    Excellent explanation! 👏👏👏

  • @MTS4LIFE
    @MTS4LIFE 3 года назад +1

    This is very well explained.

  • @lorireid8938
    @lorireid8938 2 года назад

    Nicely done. You explained it very well.

  • @lisa_yvette3875
    @lisa_yvette3875 3 года назад +1

    I love your channel Sis ❤

  • @selinabadon9732
    @selinabadon9732 Год назад

    Great video very detailed, thank you!

  • @melissapope5323
    @melissapope5323 2 года назад

    This was helpful! Thanks

  • @MelissaMartinez-kq6dk
    @MelissaMartinez-kq6dk 3 года назад +1

    This video was so helpful 🙌

    • @MonetsMoney
      @MonetsMoney  3 года назад +1

      Glad to know! Thank you ❤️

  • @MartyBJustLiving7
    @MartyBJustLiving7 3 года назад +1

    This was a very helpful video 🥰

  • @lavenderandbiscuitbakery
    @lavenderandbiscuitbakery 3 месяца назад

    What is a great book that explains sinking funds and the envelope system?

  • @homespunsewing
    @homespunsewing Год назад

    Thank you so much for this video.

  • @zeltael-amin5383
    @zeltael-amin5383 3 года назад +1

    tfs...great video.....

  • @thebeautyinbudgeting4374
    @thebeautyinbudgeting4374 3 года назад +1

    Heyy Monet!! I’m here and watching!

    • @MonetsMoney
      @MonetsMoney  3 года назад

      Thank you for watching ❤️

  • @relaxvideos8742
    @relaxvideos8742 2 года назад

    I like this video thanks monet

  • @nickydw1
    @nickydw1 7 месяцев назад

    Thank you so much, ❤️❤️❤️

    • @MonetsMoney
      @MonetsMoney  7 месяцев назад +1

      You are so welcome! 🤗

  • @arasarelyg.9327
    @arasarelyg.9327 4 месяца назад

    THANK YOU SO MUCH!!!!

  • @Jotique
    @Jotique Год назад

    Actually could u please talk about cash stuffing so i can have a better understanding and with the binders as well please and thank you

  • @karenrolle3010
    @karenrolle3010 3 года назад +1

    I absolutely love this video! You always put out great contents!!! Your explanation was so detailed and very comprehensive!!!❤❤❤💙💙💙💚💚💚🇧🇸🇧🇸🇧🇸

    • @MonetsMoney
      @MonetsMoney  3 года назад

      Thank you so much ❤️❤️

  • @iamcassiejbudgetsvlogs325
    @iamcassiejbudgetsvlogs325 3 года назад +1

    I'm here booo💋💋💋

  • @nchimyxskyn5404
    @nchimyxskyn5404 3 года назад

    For sinking funds such as christmas, can they be kept in an interest savings account?

    • @MonetsMoney
      @MonetsMoney  3 года назад

      Yes you can keep them in a saving account if you would like

  • @LeeZetLMG
    @LeeZetLMG 2 года назад

    Would you take out from medical for your vitamins or something like this that you buy in the drugstore or supermarket?

  • @elasthick1735
    @elasthick1735 2 года назад

    is it best to add to your sinking funds each week or each month? i’m paid weekly as well so i’m trying to figure out the best option

  • @nowritersblockhere5482
    @nowritersblockhere5482 Год назад

    👍👍

  • @valdapierre6650
    @valdapierre6650 3 года назад

    💖💖😍😍😍