Your family can create a sinking fund, dedicating a savings account for a specific household expense that may be too large to handle without borrowing the money.
An emergency fund is for the money you set aside in a savings account for unexpected costs you may face when losing a job, boiler breaks, a medical necessity, or pet surgery.
The sinking fund is for saving money for a known purpose you expect to purchase in the future. Typically, your sinking fund is for a specific planned amount.