Before I go into my rant, let’s discuss what a sinking fund is to start off. It’s a savings account that I use back and forth to pay for the unexpected as well as the expected expenses that pop up every once in a while. I keep a steady amount in my sinking fund to pay my property taxes and my vacation plans. The rest is used for the unexpected appliance repair, tire replacement or tree removal (to give a few examples) Normally, I keep around $5,000 in my sinking fund. As the fund goes down, I fill it back up. That’s why it is called a ‘sinking fund’.

My actual piggy bank.

Today, thanks to inflation and the higher costs I am paying for a lot of used-to-be normal things, my sinking fund has sunk to $2,500 (just barely) and I’m having a hard time keeping it at that! I simply do not have any extra cash anymore to stuff away in to my sinking fund. Because of that, I’ve been compelled to cancel things (like cut back on vacations, eliminate live entertainment, no more restaurant meals or take-out, cut back on driving, cut back on energy and heating expenses, no more dog grooming bills (I do it myself) no more hair cuts for either one of us (hubby does both our heads) no more new clothes (it’s either Goodwill or Job Lot) no more streaming services (it’s ROKU or PBS or nothing) no more replacements unless it can’t be repaired……..well, you get the idea. Whatever I am doing, however, isn’t working. The cutbacks are keeping me personally afloat and non-sinking. The cutbacks are doing absolutely nothing for my sinking fund.

My next solution is to start selling things. I was going to donate a lot of my stuff to Goodwill but no more. I’m either going to use Facebook Marketplace or as soon as spring breaks, I’m having my first ever (in 40 years!) yard/garage sale. I’m starting to accumulate whatever it is that has value (or someone else might need) and I am selling said stuff. If that doesn’t help or make a dent in my finances, I’m going to start looking for a part time job. Or get my sewing machine in gear and invent something I can sew, sell and sink!

Right now I have four sources of passive income coming in to my life: 2 Social Security checks, 1 pension and 1 interest investment. Hubby does occasionally get a few days of work here and there BUT nothing steady. Hopefully, my new suggestions will resolve some of my sinking fund issues.

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