What is meant by slush funds?

A slush fund is a sum of money that is set aside as a reserve. In accounting, a slush fund is a general ledger account of commingled funds that does not have a designated purpose. In more sinister cases, a slush fund may be used as a “black fund,” which is unaccounted for and kept off the books.

What do companies use slush funds for?

slush fund | Business English money that is kept by a business or other organization for illegal purposes: The CEO treated this money as his own personal slush fund and used it to evade taxes. money that is kept for unexpected costs: We have set up a small slush fund to cover any unexpected running costs.

What is another word for a slush fund?

What is another word for slush fund?

How much is a slush fund?

Aim for a slush fund of around $1,000 to $1,500. After you have this locked down, you should then move on to putting as much money towards your credit card balances as possible (it’s expensive to finance your life at 20\%!)

How much should I have in slush fund?

You should have at least three month’s worth of living expenses built up in your regular family savings account. (This is what you tap into first to live off of for a short amount of time before tapping into your emergency savings account.)

Why is it called slush fund?

Etymology. The term slush fund was originally a nautical term: the slush was the fat or grease skimmed from the top of the cauldron when boiling salted meat. Ship officers would sell the fat to tallow makers, with the resulting proceeds kept as a slush fund for making small purchases for the ship’s crew.

How much money do you need in a slush fund?

How much money should you have in a slush fund?

We recommend always having 20\% of your paycheck go into this account because the more cushion you have built up for absolute emergencies, the better!) You should have at least three month’s worth of living expenses built up in your regular family savings account.

What is a corporate slush fund?

A slush fund is a fund or account that is not properly accounted, such as money used for corrupt or illegal purposes, especially in the political sphere.

How much of a slush fund should you allow for a budget?

We recommend always having 20\% of your paycheck go into this account because the more cushion you have built up for absolute emergencies, the better!)

What do you mean by sinking fund?

A sinking fund is a fund containing money set aside or saved to pay off a debt or bond. A company that issues debt will need to pay that debt off in the future, and the sinking fund helps to soften the hardship of a large outlay of revenue.