FAQ: Where Do I Add Future Expenses like a New Car or Roof Replacement?

We recommend using the idea of a “sinking fund” to set aside a predictable amount each month for these “infrequent expenses”.

If you go to Discovery > Expenses at the bottom you’ll find some handy calculations to help estimate this monthly amount. You can then add this monthly to your Home and Transportation expenses above. We strongly recommend this approach versus planning large lump sums every few years. This information from Discovery will also flow into every scenario, making it easy to make broad changes and update the assumptions each year.

But, if you wanted to plan lump-sum amounts every few years you could do so scenario by scenario using the Expenses columns in Planning > Projections > Table. You can see how to do that in the video below.