The Family Piggy Bank
Do you put money aside each month for big vehilce repairs/titleing/registraiton, etc?
How do you designate exactly what its for?
Replies
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no we dont...but we should though..whatever we manage to save is used for emergencies...so the car would fall into that category
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Kind of. Yearly things like registration renewal, inspection cost and general maintenance like changing oil/filters come out of our monthly budget on the months they are due. Our car insurance is paid monthly so that is factored into the budget.
If we have a major repair, need tires or something of that nature and it's not able to be covered with money in the checking account then we use money from our savings account.
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no we don't. My parents own an auto repair shop so I pay their parts on cost, no labor, and don't have to pay it right away either.
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I have a little put away for car stuff, probably not enough
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We were, we just had to use it. lol $500 on repairs. Now that we've been rear ended, I'm expecting a check from her insurance. So hopefully with that we can get new tires since the damages do not *have* to be fixed.
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When we put money aside,we don't designate specifically whats its for,we just call use it by discretion of when we need to.
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I'm considering pulling out cash each month to put aside for the big purchases, like taxes and insurance. That way we don't feel it all at one time.
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Yes. We have a transportation budget we set aside for car insurance and gas and leave extra just in case we need to do something like you listed. If the extra does not get used, it stays in the bank.
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No special vehicle fund we just pay for it when the bill arises. Luckily my husband is a decent mechanic and anything he can't fix one of his friends either can do it or can recommend someone who is usually cheaper than the local mechanic. Title/registration is only $70 for each car so $210 per year between March and Apr is not big deal.
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Normally the maintenance doesn't hurt us, but now we have to pay sales tax twice a year. I'm hoping that if we pull the money out monthly, come December it won't be so painful.