Sinking Funds: What They Are and How to Start Them

Prior to our debt free journey, which began in November 2018, Dustin and I had maybe $500-$1000 saved at any given time. Worse than that though, if we had an emergency – like needing four new tires – we would figure out what bill we could push back paying that pay period so we could get the tires. Then we would wait until the next pay period to get caught back up.

It was messy and we were barely hanging on.

Queue finding out about sinking funds!

When I say these changed our lives, I promise you I am not exaggerating. Let me explain.

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