Sinking Funds Setup | erika_lifevlogs

[@PenniesNotPerfection]

Car repairs can be very expensive for sure! We have had so many and replaced so many tires on our older cars, it was really ridiculous. Hurray for the car fund! Can't wait to see you save up and buy a car! Even if you only get the downpayment saved, I think it will be sooo much less stressful when your car does die. I'm really glad we did it. It's totally possible to do savings and debt and other goals!

[@Practice_Kindness-1st]

For sure!

[@analia.martinez2564]

I have watched like 3 of your videos and I have learn something new in all of them. Thanks I appreciate how you explain everything.

[@erikalifevlogs]

Yasss🙌🏽 im so happy to hear!

[@jaelasam]

You are absolutely right. Life is so unpredictable that u just have to have those essential sinking funds especially that emergency fund and keep at it while attacking your debt. Great video!

[@erikalifevlogs]

Yes totally agree!

[@thismamabudgets1870]

We don’t have car payments for our cars so having a car maintenance sinking fund has been a good thing for us since the cars aren’t new.

[@brownsugar1519]

I follow Dave Ramsey too. However, I agree with you on doing baby step 3 before before baby step 2. Right now, we are seeing that the $1000 is not enough to hold us over.

[@erikalifevlogs]

Same here!

[@AsiaCierraBudgets]

Im going to add a medical sinking fund for myself and my son. Thank you for the tips!

[@joannwagner4940]

You are so right. My priority has changed since last year. When I started I couldn't find any funds to set aside now my list is similar to yours.

[@erikalifevlogs]

We just evolve and learn along the way and these times are definitely a learning curve

[@tamikajones6970]

I loved the video and the setup is too cute. I have had my share of car repairs which I was able to cash flow from my paychecks but a car maintenance fund is crucial to have. I had a 2008 Honda Accord aka Beauty that ended up being a flood car with tons of repairs in the 2 years that I owned her. I will be getting a 2017 within the next month or so and the plan is to buy it outright. I totally agree with budgeting, saving, paying off debt, and enjoying life all at the same time. Have a great week!

[@erikalifevlogs]

My goal is 2014 honda civic

[@tamikajones6970]

Nice choice and you will accomplish that goal. You got this girl !

[@HollyDurbarry]

Car maintanence is a huuuuuge one for me! 4 weeks ago my gear box and clutch went which cost me £600 to repair, 4 days later I had to change a tyre and the oil which was another £90, 2 weeks later my car broke down completely and I then had to repair the start motor which was another £180... so in 4 weeks I’ve spent nearly £800 on my car! So now i am setting aside money for car maintanence and also my insurance so I can start paying this annually instead of monthly to cut interest and monthly expenses 😴

[@ro2409]

Great video! I love sinking funds! I hate having to use them, but I love having them. ☺️

[@erikalifevlogs]

Same!

[@mariselaleyva9420]

U should look into if ur job has fsa or hsa it a life changer. Cuz its the same thing has having the fund when you need but helping u at the end of the year cuz that money it Tax Free....

[@izzykitty447]

What about shutdown? Or is that no longer needed for right now?

[@erikalifevlogs]

Our company is too busy to have a summer shutdown

[@LupitaAide]

I watch her too! Pennies Not Perfection is a great channel to watch a lot of good information. Year 2 wow almost there keep up the good work. I am about to go into my second year with non-stop. This time I will succeed. I saved part of my tax money and I have it as my emergency funds.

[@tyresseferguson2462]

I started a medical sinking fund because I was tired of using my HSA money on dental, vision, and prescriptions payments that wasn't going toward my annual medical deductible. I also have 6 other sinking fund: Emergency fund Car maintenance Vacation Lifestyle Car (so close to my goal) House down payment

[@erikalifevlogs]

👏🏽 that is awesome!

[@budgetrebelgoals]

Great breakdown

[@erikalifevlogs]

Thank you!

[@peacelilly000]

Girl, I don't blame you to up the ante on your savings.

[@erikalifevlogs]

All im doing is hoarding all the money

[@peacelilly000]

@@erikalifevlogs but you need to in these unstable times😆

[@royaleBlack]

How are you

[@erikalifevlogs]

Im good. Thank you for asking