This is a picture of our Baby Step 1 the $1000.00 dollar emergency fund. The stack on the right is going to pay the mechanic and the other stack is the remaining total.
It all started with our friend Jack who borrowed our car to go to D.C. for the last time.
We got a call when he was about 50 miles away when something happened to the car and it began to slow down on its own. We called our road side assistance had the car towed back to our apartment. We don't blame Jack because the car would have broken down eventually since it's 14 years old. We're just glad that we weren't the ones stranded in the middle of a trip. For example we had plans to go to D.C. this past weekend and if Jack hadn't taken the car it would have happened to us on our way there which would have been a stressful experience.
Monday came and Shane took it to a shop one of our friends recommended. They diagnosed the car and said that the spark plugs were out which caused the ignition coil to blow up. We were thinking that it sounded like an expensive job to replace an ignition coil. Total cost of everything was $342.00. According to my sister she said that was cheap. According to me who hasn't had much experience with car repair, I thought it was expensive. It killed us to have to turn in 17 Andrew Jacksons ($20 dollar bills) of hard cold cash, but we're thankful that we had an emergency fund for cases like this.
One of Daves slogans is "If You Live Like No One Else, Later you will LIVE like no one else." The purpose of my blog will take you through my journey of Dave Ramsey's 13 week course called Financial Peace University. You'll get the inside scoop of the things that I do in my life that can be a little bizaar to save money, budget, and follow the baby steps Dave Ramsey teaches.
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-Ericka
You're talking to someone who never pays for gas or maintenance so maybe I don't have the best perspective. Still, I could spend that much $ in a few minutes at a race expo.
ReplyDeleteThe cheapest thing would be to take an auto shop course and fix it yourself. That was BD's two cents worth. ;-)
Thanks for visiting my blog! I'm impressed that you are so financially savvy at such a young age. I would be very wealthy if I knew then what I know now...
ReplyDeleteGlad you weren't in the car when it broke down, but actually anything under $500.00 for a car repair is cheap! :)!
LOVE the stack of bills!
i still feel sooo bad about that... i know it wasn't my fault, but i was the present party when it happened! anyhow, thanks for making me famous on your blog!! :)
ReplyDelete