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The furnace died in January and I actually had savings for once
Our old furnace gave out on the coldest night of the year back in January... temp dropped to 12 degrees. I figured we were looking at a $3,000 bill at minimum, maybe more if the whole unit needed replacing. Called around to three different HVAC places in town and the best quote came in at $2,800 for a new install. Thing is, I had been putting away $100 a month for two years into a home repair fund after our water heater went out in 2020 and I had to put that on a credit card. Felt pretty good writing that check out of savings instead of financing it. Still stung a little, but not the way a loan payment would have every month. Anybody else got a sinking fund that saved them from a nasty surprise?
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wade7671mo ago
Funny how a busted water heater was the thing that finally scared me into being responsible with money. Now I just need to avoid looking at my savings account in between emergencies or else I'll start mentally spending it on something stupid like a Yeti cooler I don't need. That "latte factor" stuff is fine but I'd rather give up buying fancy coffee than explain to my wife why we're eating ramen for a month because the AC compressor blew. Nothing kills the high of having a cushion faster than realizing you need to start the whole dang savings process over again from zero.
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mason_jackson1mo ago
Read an article a few months back about the "latte factor" and how small savings add up. Never really bought into it until something like this happens. 100 bucks a month for two years isnt much when you're putting it in, but 2,400 bucks sitting there when you need it is a whole different story. Good on you for sticking with it, most people wouldve tapped that fund for something dumb like a vacation or a big tv.
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