What is a Sinking Fund & Why You Absolutely Need One in Your Budget Have you ever been sidelined by a big expense that completely wrecked your budget? 👀Maybe it was a car repair, back-to-school shopping, or that annual membership you forgot about. That’s where sinking funds come in – your secret weapon to avoid financial surprises from ruining your plans. What is a Sinking Fund? To put it in the simplest of terms, a sinking fund is money set aside, little by little, for a known, upcoming expense. Examples of sinking funds can be: A sinking fund is different from an emergency fund because it is for planned expenses,…