Gen Z Guide to FI

A love letter to sinking funds and emergency funds.

In another life or maybe this one, I want a chauffeur. I despise driving.

Every time I go to get my car checked, there’s always something new wrong with it. I thought the well reviewed local mechanic was ripping me off so I went to my local Toyota. Turns out local Toyota is worse. They wanted to charge me $200 just to tell me what the mechanic already told me for free. Not to fix the problem, just to tell me what it is. Bitch ass Toyota.

Anyway, I dropped $800 on my car some weeks ago. I replaced all my tires. But I was really glad I didn’t actually dip out of my emergency fund for it. It was an unexpected expense for me but I realized after owning a car for the past 3 years that I need a separate sinking fund specifically for my car.

If I know to expect at least $1000 in extra car expenses every year, then I should plan for it right? Exactly! It isn’t an emergency if I know it’s coming. Anyway, that was exactly what I did this year since I had an unexpectedly large bonus in March.

The summary of this post is if you don’t have an emergency fund, work on building it. If you already have an emergency fund, start building up your sinking funds so you’re prepared for recurring annual expenses. The peace of mind is priceless.

Best of luck FIRE babies

XOXO Gen Z Fire Baby