March 23, 2022 - Wednesday, 01:16 AM

My Seven Streams of Income Series continues for this month of March chill'hustler's and now currently on it's  Part III. If you haven't read any of the first two part's yet, you can check it here:

• Seven Streams Of Income

• Seven Streams Of Income II

Continuation...!!!

Third article for the series and I can't wait for y'all to know my personal experience about this type of saving and earning money chill'hustler's. So, we that being said, I won't waste any of your precious time again with a fussing intro, so hop on the train of memories and I will let y'all see what twist did I make to work this thing out chill'hustler's.

This time around, I'll be sharing my sinking fund experiences and how it helps me a lot for the last four years chill'hustler's.

Sinking Fund

Sinking Fund - is a unique and strategic way of saving money. It works like this, every payday you set aside a small amount of your salary for a period of time before saving it. As simple as saving money for your future plans and not set for financial emergencies only.

This sinking fund thing is almost if not always a trend in most companies here in the Philippines. But, sinking fund here in the Philippines has a twist, wherein it has a second phase added to it which is lending money. The concept is still the same but for more than one individual, it's a group of people with the same goal of saving money every year and will withdraw it every year end. This group of people will elect a money custodian, president and collectors. The main purpose of it was for running the sinkings lending branch.

Back in 2018, me and my partner joined our workmates sinking fund with the goal of saving in money for six months that runs from january of a year and will end in the last day of june. Every payday that falls in that period of time, we automatically give and save worth one thousand pesos ($20) each member and it will serve as the main fund for the money lending.

During this first sinking experience of mine, it was a big success and me along with my partner ended up having twelve thousand pesos ($240) each plus an additional of four thousand pesos ($80) from the interest gain from lending the sinking fund money.

As the year 2018 ended, me and my partner had a twenty eight thousand pesos cash on hand and so we decided to run our own money lending business also which is already shared by me on the first part of this series.

While me and my partner running our own lending business, we still manage to enter two (2) sinking fund groups for the year 2019. Even though these sinking funds are giving me passive income like those farming features of some DeFi.

Up until now chill'hustler's, both of us are still taking part of a sinking fund but for this year, it was with a much bigger capital on the first put-up. The only thing about sinking fund that I'm having regrets now is that we stop having our own sinking fund running and afloat because pandemic lockdowns leaves us with no choice but to stop it because cash borrowers during will find a hard time paying it during those times on a totally lockdowns.

Final Thoughts

Indulging myself with sinking fund concept was an eye opener for me in understanding and knowing how a sinking fund really works and its nature. This sinking fund strategy only gets a three digit return of investment every year end and that's the highest but having 99% assurance to be giving you passive income. So if you have a frozen and sleeping money at home and you don't like the concept of Banks anymore, you can do your own research too about it. Of this one isn't working, I already stop doing this a long time ago.

Note: "This is not a financial advice, just an openbook of my experience in life searching for some small businesses and side hustles that are beneficial to me chill'hustler's."

To be continued...!!!

Hello there Chill'hustlers!! 🙋🏽‍♂️ That's it 
for today and as always, I'm glad you 
reach the end again, thank y'all for 
always sharing your day with me, see you 
on the next one Chill'hustler's. Have a 
chill vibe month of March and stay hopeful 
cause better days are comin', Good vibes 
always, Jah bless and PEACE ✌️!!! 🙏🙇

Adieux..!!!
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Title   : Seven Streams of Income III
Author  : @Carewind - 85th Article 
March  23, 2022 - Wednesday, 01:16 AM

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