Goal #1 Achieved in Transfer Tuesday Sinking Fund ✅

by | Jan 9, 2024 | Self Directed IRA | 7 comments

Goal #1 Achieved in Transfer Tuesday Sinking Fund ✅




Happy Transfer Tuesday!

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What is Transfer Tuesday?
It was coined by Mary from @PenniesNotPerfection and it’s the day of the week where you move ANY amount of money to ANY of your financial goals (debt, savings, investments, sinking funds, etc.).

I tend to transfer money multiple times a week to my various goals, but I always make a transfer on Tuesday as well!

What’s the point?
You will make quicker progress the more transfers you make (less interest paid on debt, more interest gained in your savings accounts, more money compounding in your investments). It also helps your money mindset because it feels good to make progress on a regular basis!

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Transfer Tuesday | Sinking Fund Goal #1 ✅

Welcome to Transfer Tuesday! This is the day where we take a moment to celebrate our progress towards achieving our financial goals. Today, we are focusing on Sinking Fund Goal #1, and we are excited to announce that we have successfully reached this milestone.

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A sinking fund is a dedicated savings account that you use to save for specific expenses or large purchases. By regularly setting aside money for these purposes, you can avoid going into debt when the time comes to pay for them. Sinking funds are an effective way to manage your finances and ensure that you have the funds available when you need them.

Sinking Fund Goal #1 represents the first step towards building a strong financial foundation. It could be for a major repair or renovation, a vacation, or any other expense that would typically require dipping into savings, using credit, or taking out a loan. By setting and achieving this goal, you are creating a safety net for yourself and your family, and taking control of your financial future.

Reaching Sinking Fund Goal #1 is a significant accomplishment, and it is important to recognize and celebrate this milestone. It demonstrates that you have the discipline and dedication to stick to your financial plan and make progress towards your goals. It also provides a sense of security and peace of mind, knowing that you are prepared for any unexpected expenses that may arise.

As you celebrate this achievement, take a moment to reflect on the discipline and commitment that has led to this success. Consider the sacrifices you made to reach this goal and the positive impact it will have on your financial well-being. This is an opportunity to pat yourself on the back and acknowledge the progress you have made.

However, it is also important to remain focused and continue moving forward. Sinking Fund Goal #1 is just the beginning, and there are likely many more goals that you have set for yourself. Use this accomplishment as motivation to keep going, and strive towards achieving even greater financial stability and security.

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In conclusion, Transfer Tuesday is a day to celebrate our financial achievements, and reaching Sinking Fund Goal #1 is a cause for celebration. By setting and achieving this goal, you have taken a significant step towards securing your financial future and ensuring that you are prepared for any expenses that may come your way. Congratulations on this accomplishment, and may it inspire you to continue making progress towards your financial goals.

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7 Comments

  1. @wills.364

    Transferred $500 to my Roth IRA

  2. @autobotdiva9268

    my 22 year old got a work bonus of $400 and i made him put in his ROTH IRA…….he is so annoyed with me, lol

  3. @Angela27red

    Can you do a video or tell us of some apps or resources that you use to help you run all your side hustles and your business? Do you use Google calendar? Just looking on how you run/ stay organized and on top of your businesses & side hustles while having a full time job?

  4. @greenlantern1986

    Sorry if I missed it, but what's going on with your Sabbatical Sinking Fund? Is it full already?

  5. @alessiagandolfo9305

    What a powerful start of 2024! I have a video request that would be super interesting for me, I always admire your incredible consistency and discipline that helped you move so many areas of your life forward, can you make a video about when you started to be this consistent, what inspired it/triggered it, what motivates you and what do you do when you feel like you don't want to show up for something? I really want to improve this skill in 2024 for myself, thank you!

  6. @thomaschew2191

    We have been pondering adding another HYSA for a new car sinking fund instead we added a Money Market fund to our brokerage account which we put $25 in to get it started. Going back we have one of those goals thermometers that is in $5,000 increments and we are $1,000 away from adding another tile to the thermometer so…. Friday will put the $1K into that (so we can add the tile) and will back off on the general savings/emergency fund while putting $500/month into the car (money market fund). Convoluted I know… So after all that (Feb) we will put a minimum of $500 into the car fund and $500 into general savings and also for now build up our checking account buffer.

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