You can use your sorcery points to gain additional spell slots, or sacrifice spell slots to gain additional sorcery points. You learn other ways to use your sorcery points as you reach higher levels.

Creating Spell Slots. You can transform unexpended sorcery points into one spell slot as a bonus action on your turn. The Creating Spell Slots table shows the cost of creating a spell slot of a given level. You can create spell slots no higher in level than 5th.

Any spell slot you create with this feature vanishes when you finish a long rest.