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Sinking Funds – How To Calculate Them
I live by sinking funds and use them for absolutely everything possible – I’m talking holidays, Christmas, birthdays, graduation, pre-planned events – you get it! They are honestly one of the most valuable budgeting tool out there. However, when you are starting out, understanding how to calculate your sinking fund goals can be hard. Enter this blog post!! What the hell is a Sinking Fund? A sinking fund is a budgeting tool that allows you to cash flow an expense, by putting money aside in advance. You essentially add money into a “pot” each month running up to when you need the money so when the time comes you have…
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5 Ways to Spring Clean Your Finances
There is never a bad time to dedicate a few hours to spring clean your finances. Arguably you should be doing these things multiple times each year. But if you don’t have the time then at least do these once a year. So if you are reading the list and thinking “I’ve never done that!”, this is your call to action!! Here are five ways to spring clean your finances. #1 Review your system Does your current system work for you? No? Why not change it and try a new system. Are you currently using pen and paper but loose it often? Maybe a spreadsheet would work better for you.…
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5 Ways To Improve Your Credit Score As A Student
Having a good credit score is important when it comes to applying for credit in the future, such as a loan or mortgage. Your time at university is the perfect to start looking at building up your credit score. In this post we will go through what a credit score is, how to improve your credit score and where you can find out your score for free. What is a Credit Score? Investopedia perfectly defines a credit score as “a number between 300–850 that depicts a consumer’s creditworthiness. The higher the score, the better a borrower looks to potential lenders. A credit score is based on credit history: number of open…
