40: How to Save Money for Anything You Want on Any Income

🎙 This week, we’re talking about how to save up for anything (and everything) you want, no matter what your income level is. Sinking funds are a great way to set aside money for all your life goals so that you can build the life you want without having to struggle from paycheck to paycheck or rely on debt and credit cards. But what are sinking funds, how do they work and how can you incorporate them into your financial foundation? 🤔

This episode discusses topics like:

🌟 What sinking funds are and how they work;

🌟 How sinking funds can save you from financial ruin and why they form a crucial part of your financial foundation; and

🌟 How to incorporate sinking funds into your budget and save up for anything you want.

Links from this episode:

Episode transcript and show notes: https://www.papermoneyco.com/gof40

Time codes:

00:00 Hello and Welcome!

02:59 What Are Sinking Funds?

05:16 How Sinking Funds Save You From Financial Headaches

09:13 Priya’s Sinking Funds

11:09 Sponsor - FIRE and Investment Calculator Spreadsheet

12:56 How Do You Use Sinking Funds to Save Up for What You Want

17:18 Where to Keep Your Sinking Funds

19:21 Next Weeks’ Episode

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The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.