It’s not flashy. It’s not trendy. But developing a savings mindset and using sinking funds has saved me thousands of dollars—and a whole lot of regret. Here are three real-life examples where this simple strategy changed the game.

1. The Purse That Taught Me to Pause
Years ago, I was on a girls’ trip to New York, and I had one goal: buy the designer purse I’d been eyeing for months. I had saved every extra dollar into a sinking fund. When the moment came—I was ready. But when I saw the bag in person, something didn’t click. The color wasn’t quite right. The straps felt flimsy.

And here’s the powerful part: because I had saved over time, I didn’t feel pressure to buy it just because the money was there. That sinking fund gave me freedom. I walked away without regret, and I used the money for something that actually brought me joy.

2. The Pool That Took Five Years—and Was Worth Every Minute
Building a pool isn’t cheap, and the process can be stressful. But we took the slow route—saving bit by bit over five years. No financing. No dipping into retirement. Just one sinking fund and a whole lot of patience.

When we finally broke ground, we didn’t have to make compromises. No cutting corners. No second-guessing whether we could afford the extras. We got exactly what we wanted—without a monthly payment hanging over our heads. That peace of mind? Worth every month we waited.

3. The SUV I Didn’t Buy (And the Minivan I Love)
Let’s be honest—car shopping can bring out all the status-driven emotions. I had my eye on a luxury SUV. But as a parent of three little ones, I knew the wear and tear would be real. Juice boxes, sticky hands, dings from car seats…

Instead of rushing into a big car loan, we saved and took our time. That patience led us to a minivan that checked all the boxes—and left us with thousands still in the bank. I’ll take sliding doors and zero car payments over bragging rights any day.

Why Sinking Funds Work
Here’s the simple beauty of sinking funds: you choose a goal, break it into monthly savings targets, and watch it grow. Whether it’s a vacation, new appliances, or holiday shopping, sinking funds take the emotion out of spending and replace it with intention.

You’re not just “spending money”—you’re redeeming money you saved for a reason.

Want to Save Faster?
I’ve got a whole episode dedicated to how I saved $4,000 in record time without selling everything I owned. Check out the next podcast or episode for practical tips you can start using right away.

Final Thoughts
The best money advice I’ve ever received wasn’t about maximizing credit card points or picking the right ETF. It was this: Patience builds peace. Whether it’s a purse, a pool, or a practical car, the slow route has never let me down.

Stop chasing fast fixes. Start building sinking funds—and a life that’s aligned with your values, not your impulses.

All writings are for educational and entertainment purposes only and does not provide investment or financial advice of any kind.

The post How This Underrated Savings Hack Saved Me Money appeared first on ROI TV.

One of the most overlooked ways to build wealth is by monitoring retirement account fees. More than 90% of Americans don’t know what they pay in 401(k) fees. Expense ratios are recurring charges based on the amount you invest and the annual returns, and they can have a compounding effect over time.

Take two popular investment options: VFAX, an S&P 500 index fund, has an expense ratio of 0.04%, while GFACX, a growth mutual fund, charges 1.36%. Investing $1,000 per month for 30 years in VFAX could grow to $3.56 million with just $29,000 in fees. The same investment in GFACX could result in $2.7 million with $900,000 lost to fees. Over 40 years, the difference grows even more—$11 million for VFAX vs. $8 million for GFACX. That’s a $3 million gap just from higher fees.

Check your 401(k) and IRA expense ratios and ensure any higher fees are justified by significantly better performance.

2. Cut Back on Major Expenses

Housing and car payments are the biggest expenses for most Americans. The median monthly housing cost is around $225 (not including taxes or insurance), and the average car payment has soared to $742 per month.

Downsizing your home or opting for a more modest vehicle can save hundreds—or even thousands—each month. That money can be redirected to investments or an emergency fund. Making short-term sacrifices today can lead to long-term financial freedom.

3. Ask for a Raise and Invest It

Earning more and saving more go hand in hand. Negotiating a $5,000 raise and investing it at a 10% return annually could add over $1 million to your net worth in 30 years. If you have 40 years to invest, that same raise could grow to $2.4 million.

The key? Don’t increase your lifestyle to match your income. Invest your raise instead of spending it on luxury items.

4. Create a Simple Financial System

Use Google Sheets or budgeting apps to track your monthly income and spending. Stick to the 75-15-10 rule:

• Spend no more than 75% of your income
• Invest at least 15%
• Save 10% for emergencies and big-ticket purchases

Savings are for security; investments are for growth. Even small improvements in financial organization can lead to big gains over time.

5. Take Risks on Yourself

Successful people take calculated risks, whether that means starting a business, going back to school, or learning a new skill. Ric Edelman encourages investing in personal growth and embracing discomfort as a sign of progress.

Start small: read a book, take an online course, or buy a $100 course on a skill you’ve always wanted to learn. Taking action now builds confidence and reduces long-term regret.

Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but he is not providing you with legal advice in this article. This article, the topics discussed, and ideas presented are Jaspreet’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

The post 5 Financial Strategies That Can Help You Build Wealth Faster appeared first on ROI TV.