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52 Week Savings Challenge Update

December 21st, 2013 at 03:16 am

Hello, I hope everyone is doing well! Today I received an unexpected $50 Kohl's gift card as a Christmas gift, so I'm going to reduce my clothing sinking fund by $50 and add it to the challenge. So far I've completed weeks: 1-8, 51-52. Speaking of Kohl's, I also received an email from them with a coupon of $10 off any purchase, so I will go within the next few days to buy something totaling close to $10 as possible and will add that to the challenge as well!!

5 Responses to “52 Week Savings Challenge Update”

  1. creditcardfree Says:
    1387596418

    You are moving right along with the challenge!

  2. Rachael777 Says:
    1387639660

    What is a 'sinking fund'?

  3. beawealthywarrior Says:
    1387639922

    @Rachael777,

    I learned about sinking funds by following Dave Ramsey and mainly they're fund that you set aside for a particular purpose. So you can have funds for Christmas, car registration, property taxes, etc... The biggest goal is to budget for things every month that you know u will be spending sometime in the future.

  4. SicilyYoder Says:
    1387659725

    I love Dave Ramsey. I'm doing a sinking fund for Christmas next year.

  5. creditcardfree Says:
    1387677074

    A mortgage escrow is a type of sinking fund than many are familiar with.

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