Comments on: Personal Finance 101 – Sinking Funds

By: Michelle

Michelle — Tue, 24 Jan 2012 22:57:24 +0000

So I googled sinking fun and got to this post — so timely! I called ING Direct and set up m y accounts!

I also chatted with and laughed with Vic in customer service who as it turns out works at the Chicago cafe location just on the other side of the Loop from me! He invited me to come to the cafe and say hi, coffee on him.

Thanks for the idea!

By: 31 Days of Organizing for a Better 2010: Build Your Savings | Organizing Your Way

Mon, 18 Jan 2010 12:31:44 +0000

[...] is the ability to create many different savings accounts with the click of a button. Referred to as sinking funds by Tsh from Simple Mom and others, multiple savings accounts let you earmark portions of your [...]

By: 10 Surprising Side Effects to Money Management

10 Surprising Side Effects to Money Management — Sun, 27 Dec 2009 21:50:12 +0000

[...] know our net worth. We know exactly how much we’ll have set aside for Christmas this year. That’s a great feeling. Such [...]

By: Michelle

Michelle — Sun, 27 Dec 2009 16:47:10 +0000

My checking account is not with ING, but it’s linked to it. So when I need the money, I just transfer it from ING to my checking account. It takes a few days, but it’s super easy.

This article has prompted me to set up a separate ING account for my car insurance. I used to do something similar with cash a loooong time ago. This is much simpler and I won’t be able to dip into it as quickly. I also set up my Emergency Fund account. I’d been planning to start some time next year, but I decided…why wait?

Thanks for the great suggestions!

By: Cloth Diapering: Your Most Common Questions, Answered

Cloth Diapering: Your Most Common Questions, Answered — Sat, 06 Jun 2009 10:00:59 +0000

[...] trimester, start saving now for your system. Just like saving up cash for all things in life, create a sinking fund for your [...]

By: the Dad

the Dad — Mon, 16 Mar 2009 21:41:01 +0000

We’re just getting our financial act together so helpful explanations like yours are excellent. Thanks! the Dad´s last blog post...Batting One Hundred

By: Bonnie

Bonnie — Wed, 31 Dec 2008 02:20:36 +0000

We have an ING account as well and use it for saving in categories just like you suggested. Love it. I just thought I would mention that we tried to go light on Christmas this year, budgeting about $100 for myself and my husband to give gifts to each other ($50 each), and another $200 or so for family gifts (parents, siblings, etc.) and extras like a tree and decorations. We only spent a tiny amount on our 6 month old baby. We just added up the receipts, and we spent $575. On our budget Christmas! We felt like we were being so reasonable! Bonnie´s last blog post...Portrait Practice

By: Dollars and sense. « hope at home.

Dollars and sense. « hope at home. — Mon, 13 Oct 2008 06:19:20 +0000

[...] to ING, we now have sinking funds for all the major, planned upcoming expenses each year. For us, this means having accounts like [...]

By: Lauren

Lauren — Fri, 10 Oct 2008 20:12:11 +0000

You have just made my life so much easier! I’ve been frustrated by our finances because everything is lumped together in one checking and one savings account. DH is not very money savvy so it is hard for him to understand why “we don’t have any money to spend” when there’s $500 sitting in the account. Having the ability to label different accounts will put everything into perspective for him!! God Bless You!!

By: Andy @ Retire at 40

Andy @ Retire at 40 — Thu, 09 Oct 2008 10:06:08 +0000

I've named mine the Freedom Fund since it allows me to not think about those irregular expenses and frees my mind to think about other things. Andy @ Retire at 40's last blog post...The Freedom Fund - How it Can Work for You