Car Repairs and Emergency Funds

How to Take the Stress Out of Car Repairs

I love new things! My wife and I just bought a new house and moved in last week! It’s awesome, cute, adorable, and already feels like home! With our new house, we are learning all about our new neighborhood, meeting new neighbors, and figuring out the best new routes to get to and from all of our normal hangouts. Our new house and neighborhood even have new smells to get use to. But there is one new thing that I absolutely do not love, and that is new sounds my car starts making when I drive. A couple weeks ago my car started producing a cacophony of new sounds coming from the front passenger side wheel well. At first I was a little alarmed, but like sometimes happens with car noises, it went away so I crossed my fingers and hoped that was the end of it. But as I dreaded, the noises came back accompanied by grinding and clunking noises and I knew that we needed to take it in figure out the problem, hoping that it was minor.

My wife and I dropped the car off this morning and got a call back within a couple hours. As the mechanic started rattling off everything that needed to get fixed, I mentally added up the costs, or at least what my car-ignorant brain thought it would cost. It was worse than we expected and as it turns out it will cost around $1000 to fix everything. WHAT!?!?!! That was not part of the plan! It was supposed to be a quick fix, maybe a couple hundred dollars and we could get on our way. But as much as this news was unexpected, it strangely did not stress us out. Here are two reasons why, the Emergency Fund and the Rollover!

Emergency Fund

One of the first steps of creating a budget and becoming debt free was to create an emergency fund because well, life happens. It is inevitable. Unexpected expenses sneak up, accidents happen, pipes burst, and as we found out, cars break down. When life happens, it can be a burden to your budget and leave you wondering where the money is going to come from. For this reason, a crucial first step of taking control of your finances is to create an emergency fund. Before Jenna and I got married, we had separate finances and each created our own emergency fund of $1000. So when we got married and actually combined all of our finances, we had $2000, which over time we doubled to $4000 for our own peace of mind. The good news is, we still have that money stashed away in savings “just in case” something happened. And now that something has happened, it takes so much stress out of paying for it.

The Rollover

I mentioned the rollover in an earlier post, and it is once again going to be a life saver to get us out of a tight situation with our car. Each month that we have extra money in our gas budget, we roll it over to potentially use down the road. Right now we have around $300 saved up in our rollover! Now we can take less out of our emergency fund so it won’t take as long to replenish it, and ultimately it will be a shorter derailment from paying off our student loans.

Life is bound to happen and you will encounter a few bumps in the road. The key is to plan ahead, and an emergency fund and rollover are great ways to do it.

Let Me Know in the Comments

What are some bumps in the road you have experienced? How did you overcome them?



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