The check engine light appears and your first thought is, “Why is this happening right now? I can’t afford it this month!”

Here’s the thing though: there’s rarely a “good” month to get hit with an unexpected expense, and car repairs aren’t really unexpected. All car owners know they’re coming eventually—we just fail to plan for them.

The car has to be fixed though, so you put it on a credit card and the debt becomes another problem for Future You to deal with. And the money worry that fills you with a vague sense of dread continues to grow, feeding on itself.

Sinking funds save you from that stress by turning irregular or forgettable non-monthly expenses into just another boring bill to pay, because you already have it covered.

Future You is going to be so impressed you thought of it.

What are sinking funds?

Sinking funds (also known as true expenses) are money you gradually set aside to cover specific non-monthly expenses like home repairs, holidays, or a twice-a-year insurance payment.

The name…