Emergency funds should not be used for car repairs and service. A separate budget category should be set up specifically for car repairs and service. I knew this and still used money from my emergency fund to pay for new front and rear brakes on my van. I did not set aside enough money for long enough to cover this expense that I knew was forthcoming.
Since I know I will need to have my shocks replaced and new tires very soon I will need to set aside some money in my budget to cover these expenses.
Word of advice: set enough money aside for car repairs and service on a monthly basis. My plan is to set aside $100 a month in a separate category in my budget to cover these expenses versus taking money out of my emergency fund to pay for them.
2 comments:
Do you know any good Raleigh auto body repair shops?
I know a great place that can help with collision auto body repairs in Raleigh.
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