Yesterday we had to have someone come and check our furnace as it hasn’t been sounding very “nice” when it runs. When he gave us our bad news, I was not too happy as that meant more money out of our pocket. Our refrigerator and our stove both had to be replaced a month ago and that wasn’t a cheap date. So now we have to come up with a lot more money to replace our furnace. I can financially plan for the fridge and stove, but how do you plan for a new furnace that can run around $7000 at the most? The amount of money that Dave Ramsey says to keep for emergencies does not begin to cover what we will need to replace our furnace.
So with all of this said, how does one try to save enough money for these big ticket items that you may need unexpectedly? As a homeowner we know that there will be those emergencies that will come up. I am sure that some families that are homeowners might be able to put some money aside for these specific emergencies, but there are those of us that just can’t put that much away.
So my big question is how do others handle these kind of situations? Do you save for that big emergency? Would you have enough if something big happened? If you do have enough for any situation, how did you save it? I want to hear everyone’s stories. I am always eager to hear how others save money. Please feel free to comment and tell me any and all ideas.