Let’s face it, times are tough! Money is tight. Grocery prices are rising and people all across the world are struggling to make ends meet. If you’re like most Americans, it’s harder to save for rainy days, family vacations, special occasions, and even Christmas. 

Want to know what a sinking fund is? Simply put, it’s a fund used to save up for large purchases. These purchases can include vacations, businesses and personal purchases, special occasions, rainy day (or emergency) funds, and much more. The idea is that you’ll use this fund to stockpile cash toward your goal. 

Below are 12 simple ways you can save money and increase your income to cash flow your sinking funds. Pay attention to the ideas that stand out to you. Even better, print this article and highlight it so you can take quick action at the end of the article.

12 Simple Ways to Cash Flow a Sinking Fund for Your Personal or Business Expenses

1. Have a Yard Sale {and Go Beyond Your Physical Yard}

2. Pick-up a Side Gig {and Start with What You Love}

3. Go All-In on a No-Spend Month {and Stockpile Your Savings}

4. Save Your Loose Change {and Put It in Your Sinking Fund}

5. Work Overtime {and Bank the Extra $ in Your Rainy Day Jar}

6. Shop Your Pantry & Freezer to Reduce Your Grocery Costs {And Toss it in Your Savings Envelope}

7. Use a Zero-Based Budget {and Sink Your Funds Over Time}

8. Purchase Your Vacation Packages in Advance {and During Off-Seasons} for Extra Savings

9. Host At-Home Entertainment to Save on Date/Family Nights Out {and Add What  You Saved to Your Special Occasion Fund}

10. Be on the Lookout for Sales {Especially for Special Occasions & Vacations}

11. Choose a Family Vacation Closer to Home {to Avoid Extra Costs}

12. Rough it! {Save on Hotel Costs while Making Memories!}

Put the List to Work for You!

What ideas can YOU come up with? Set a one-minute timer and try to come up with 2-3 ideas. Then, share them with us! We'd love to hear what bold action you can take! Want to hear more ways to start a side gig? Here are 40 ideas to help get your brainstorming session rolling. One of the beautiful things about cash flowing your rainy day, special occasion, or vacation funds is that you really are in control of your money, instead of your money being in control of you. Do you own a business? Did you know you can use similar ideas to build a sinking fund for your business? Maybe you need a new laptop, want to take a continuing education course, or need to build a nest egg for your next hire. 

Wrap Up 

If you need help getting a handle on your personal or professional taxes, we’d love to help. TNH Financial Service provides one-to-one help to meet you where you are and keep you moving toward your personal and professional goals. Schedule your consultation today.