Just Because The Budget Board Will Understand - VENT ahead

[snarlingcoyote]

I have had 4 major completely unexpected expenses that came out of left field this year. I had a nice, fat savings account before all of this and now I am just in the rebuilding zone.

Well, today, DH informed me that there is no way we can put it off - we need a new roof this spring. He caulked and spot patched the roof (he learned how to roof from a master roofer friend several years ago. If he's ever out of work, he has a second profession, I guess.) but says it will probably last about 9 months before it MUST be replaced.

I am verklempt. I could pay for it in savings right now and since the patch job will last until after income tax comes in, I won't even miss the money.

BUT. . .I want my safety net back! I want savings! DH will have a lot of overtime this spring and has promised that it will ALL go into savings. (He knows I would rather have a fat rainy day fund than just about anything else.) Still.

Ah well. Disney in 3 days; completely paid for, non-refundable. My Disney Visa points will easily provide all our spending and food money; we rented a DVC from a member here before 3 of the unexpected expenses, paid for half of it with found money (sold some gold); gas is free in DH's company car (well, we pay every month for the privilege of using it, but still. No difference in what we pay whether we drive it to Florida or not!);tickets were bought for a planned trip last year that had to be cancelled due to work. Sooo I can go on that without guilt, but still! That roof was just not what I wanted to hear about.

No new pretties until Christmas! Savings, savings savings! Next year at this time, I will have a nice fat cushion again!

Thanks for letting me vent and rant! Nobody else understands why I am so upset!

 

[happygirl]

I have had 4 major completely unexpected expenses that came out of left field this year. I had a nice, fat savings account before all of this and now I am just in the rebuilding zone.

Well, today, DH informed me that there is no way we can put it off - we need a new roof this spring. He caulked and spot patched the roof (he learned how to roof from a master roofer friend several years ago. If he's ever out of work, he has a second profession, I guess.) but says it will probably last about 9 months before it MUST be replaced.

I am verklempt. I could pay for it in savings right now and since the patch job will last until after income tax comes in, I won't even miss the money.

BUT. . .I want my safety net back! I want savings! DH will have a lot of overtime this spring and has promised that it will ALL go into savings. (He knows I would rather have a fat rainy day fund than just about anything else.) Still.

Ah well. Disney in 3 days; completely paid for, non-refundable. My Disney Visa points will easily provide all our spending and food money; we rented a DVC from a member here before 3 of the unexpected expenses, paid for half of it with found money (sold some gold); gas is free in DH's company car (well, we pay every month for the privilege of using it, but still. No difference in what we pay whether we drive it to Florida or not!);tickets were bought for a planned trip last year that had to be cancelled due to work. Sooo I can go on that without guilt, but still! That roof was just not what I wanted to hear about.

No new pretties until Christmas! Savings, savings savings! Next year at this time, I will have a nice fat cushion again!

Thanks for letting me vent and rant! Nobody else understands why I am so upset!

Have a great time at Disney

 

[bumbershoot]

 

[robinb]

I have had 4 major completely unexpected expenses that came out of left field this year. I had a nice, fat savings account before all of this and now I am just in the rebuilding zone.

Well, today, DH informed me that there is no way we can put it off - we need a new roof this spring. He caulked and spot patched the roof (he learned how to roof from a master roofer friend several years ago. If he's ever out of work, he has a second profession, I guess.) but says it will probably last about 9 months before it MUST be replaced.

I am verklempt. I could pay for it in savings right now and since the patch job will last until after income tax comes in, I won't even miss the money.

BUT. . .I want my safety net back! I want savings! DH will have a lot of overtime this spring and has promised that it will ALL go into savings. (He knows I would rather have a fat rainy day fund than just about anything else.) Still.

Ah well. Disney in 3 days; completely paid for, non-refundable. My Disney Visa points will easily provide all our spending and food money; we rented a DVC from a member here before 3 of the unexpected expenses, paid for half of it with found money (sold some gold); gas is free in DH's company car (well, we pay every month for the privilege of using it, but still. No difference in what we pay whether we drive it to Florida or not!);tickets were bought for a planned trip last year that had to be cancelled due to work. Sooo I can go on that without guilt, but still! That roof was just not what I wanted to hear about.

No new pretties until Christmas! Savings, savings savings! Next year at this time, I will have a nice fat cushion again!

Thanks for letting me vent and rant! Nobody else understands why I am so upset!

Have a great time at Disney and try not to let the roof expense change your vacation. I probably wouldn't have put the time, effort and cash on a patch if I had enough to pay for a whole new roof that was required. Since you did, I would go ahead and let it go for a few months and save up for it so you don't feel like you are using your net egg. If you do need to use your saved money think of it this way ... what else is a "rainy day" fund for than a literal rainy day? Consider yourself lucky and pat yourself on your back for putting the money away so you have it when you need it. It sounds like you'll have your cushion back in no time!

 

[snarlingcoyote]

Have a great time at Disney and try not to let the roof expense change your vacation. I probably wouldn't have put the time, effort and cash on a patch if I had enough to pay for a whole new roof that was required. Since you did, I would go ahead and let it go for a few months and save up for it so you don't feel like you are using your net egg. If you do need to use your saved money think of it this way ... what else is a "rainy day" fund for than a literal rainy day? Consider yourself lucky and pat yourself on your back for putting the money away so you have it when you need it. It sounds like you'll have your cushion back in no time!

Ehh. The DH did the patch job and it cost us $5 for a new tube of caulk. (Already had the shingles and the nails and DH's roofing tools.) The weather was actually pretty after Lee moved through, and he didn't mind doing it, so no big on that. He knows I need a few months to wrap my mind around having to drop money on another BIG expense and having 9 months cushion makes me happy.

At least all my planned vacations next year are either free or almost free! (Visiting friends, going on a side trip to a national park on a work trip, volunteering to help an archaeologist where I can stay in free housing if I want.)

 

[JaymeC]

I'm in a similar boat... and all I can see is deep breath and move on as best you can. You're in a great position that you can pay it all back so quickly! We've had 4-5 2-3k expenses come out of left field this year. Dh and I are just staring at our savings account with our jaws open really. Nothing else is allowed to come by now for awhile! Please?! The only thing that's reassured me through all of this, and I hope it reassures you too is that *that money came from savings.* Dh and I are looking for some odd jobs to rebuild ours. He's going back to school and I'm the only one with an income, so we were already pretty stretched before our emergency savings was depleted. We have incentive for the odd jobs though, we'll never make our Disney budget without it and our next trip is planned for two years out, which means we have about 12 months left in our heads at least to pay for it

 

[nunzia]

I totally understand..this kind of thing just seems to happen..look at it this way..at least you HAD the money saved to cover the expenses..it would be much worse if you had this facing you with no cash to cover it. And you'll build it back up

 

[MrsPete]

That's the way life goes: You don't get your emergencies one at a time with a good break in between -- they come one upon the other.

Be glad that you had a reserve ready for those things! You'll build it up again.

 

[JKMJ441724]

I'm with you! We were sitting pretty for a while, so we bought 40K worth of new floors and furniture. Just about had that paid for and BAM

We had to buy a new air conditioner unit (6K).

I need new shocks, struts and tires for my car (1K).

We desperately need a new front porch and deck on our house (who knows how much).

and before you know it

we will need a new roof.

All that would not have been so bad, except my husband lost all of his overtime (about 10% of our annual income).

It's one of those times where you think, man if I had just known ________ then I would not have done __________.

Oh well, we are just going to grin and bear it (and eat lots of sandwiches).

Good luck and have fun.

 

[hsmamato2]

sounds like you've got a great plan to me! your roof is good for months....you paid off your expenses as needed....you are going on your paid for trip (can't change)....and you get to go on some freebie type side trips in the future,while recharging your emergency fund! I don't think you should worry about the roof right now,as your plan to fix it before it goes all bad sounds good....

 

[lonegirl]

my mom always says "whenever you have a nice bit of money come your way, or you have saved a nice comfortable chunk, just know that it is because a nice expense is on it's way as well"

I try to remember that when I am feeling unsafe because of savings dwindling due to car repair, house repair, body/health repair.
I know it's not easy to look at it this way, but I am always grateful we had the money up front for these things, instead of scrambling for it or charging it and paying the next x amount of years.
I love my safety net too! (shhh...don't say it too loud---who knows what the day will bring )

 

[Moon Child]

Dosen't it remind you of the movie "Up" ?
When they keep having to break open the money jar for everything else except for what they are saving for?

Have a magical trip!

 

[CTdiznymom]

Look at it this way, at least you still get to have your vacation. I was lucky enough to get a PIN email a few weeks ago, and I can't convice DH to go. We're looking at a few expenses down the road, and there is NO discretionary income to be found. No point in my arguing bc he's an accountant and you just can't win! Oh Well!

 

[Plumeria9]

Dosen't it remind you of the movie "Up" ?
When they keep having to break open the money jar for everything else except for what they are saving for?

Have a magical trip!

I was thinking the same thing! I have had my share of expensive surprises this year too. over $4k for a new transmission on my Honda Odyssey was the worst. We can't afford a new car, and the one I fixed is 9 years old! But, we did go to WDW in January, so I am just going to have to suck it up and be the coupon queen that I am. I am sorry about your roof, but at least DH has some patching skills. My DH is really a pretty bad handyman, so at least you're up on me there! Whenever something big breaks down my DH always says that is just part of home ownership. I am the one getting all upset. So, sounds the same w/ you there. I'm feelin' for ya! Have fun at Disney!

 

[indimom]

I have had 4 major completely unexpected expenses that came out of left field this year. I had a nice, fat savings account before all of this and now I am just in the rebuilding zone.

Well, today, DH informed me that there is no way we can put it off - we need a new roof this spring. He caulked and spot patched the roof (he learned how to roof from a master roofer friend several years ago. If he's ever out of work, he has a second profession, I guess.) but says it will probably last about 9 months before it MUST be replaced.

I am verklempt. I could pay for it in savings right now and since the patch job will last until after income tax comes in, I won't even miss the money.

BUT. . .I want my safety net back! I want savings! DH will have a lot of overtime this spring and has promised that it will ALL go into savings. (He knows I would rather have a fat rainy day fund than just about anything else.) Still.

Ah well. Disney in 3 days; completely paid for, non-refundable. My Disney Visa points will easily provide all our spending and food money; we rented a DVC from a member here before 3 of the unexpected expenses, paid for half of it with found money (sold some gold); gas is free in DH's company car (well, we pay every month for the privilege of using it, but still. No difference in what we pay whether we drive it to Florida or not!);tickets were bought for a planned trip last year that had to be cancelled due to work. Sooo I can go on that without guilt, but still! That roof was just not what I wanted to hear about.

No new pretties until Christmas! Savings, savings savings! Next year at this time, I will have a nice fat cushion again!

Thanks for letting me vent and rant! Nobody else understands why I am so upset!

I totally get you.

I'm with you! We were sitting pretty for a while, so we bought 40K worth of new floors and furniture. Just about had that paid for and BAM

We had to buy a new air conditioner unit (6K).

I need new shocks, struts and tires for my car (1K).

We desperately need a new front porch and deck on our house (who knows how much).

and before you know it

we will need a new roof.

All that would not have been so bad, except my husband lost all of his overtime (about 10% of our annual income).

It's one of those times where you think, man if I had just known ________ then I would not have done __________.

Oh well, we are just going to grin and bear it (and eat lots of sandwiches).

Good luck and have fun.

That was us last year. We had a really nice cushion in the bank and I saved up extra for an extended two-week vacation to Disney (our first in five years). Then we got slammed with car repairs, car replacement, medical bills galore. What I wouldn't have done to have that vacation fund back.
Ah well, it was a wonderful trip. Sigh. Something nice to remember while we save our way back into our comfort zone.

Dosen't it remind you of the movie "Up" ?
When they keep having to break open the money jar for everything else except for what they are saving for?

Have a magical trip!

Awww, it does seem like UP! I love that movie. So sweet. And a good reminder that "such is life." And tomorrow is another adventure!

 

[crisi]

Bummer. Been there, done that. Its SO frustrating.

 

[gorkt]

Yep, it never fails that I save money and then an unexpected expense comes our way and BAM it is gone. This year we had several unexpected expenses, mostly car related, which ate up a decent portion of our savings.

 

[mrodgers]

Forgive me because I do have debt and don't have anything saved up, but I am working through it and have an incredible plan.....

That said, car repairs, home repairs, and medical bills are not unexpected. All of those are to be expected at some time. So, why is a vacation fund being funded before car repair or home repair funds are?

I'll give some leeway on the medical, but car repairs and home repairs are going to be a definite given.

When all is said and done with my financial plan, I will have probably far more in my home repair and car repair (also going to be a replacement) funds than I have in an emergency fund. The emergency fund is for loss of job. Something would really have to be catastrophic to use the emergency fund, not just because I suddenly need brakes on the car. Those things are expected, and should be expected far more than going on a vacation.

Like I said, I'm not there yet, but I'm working on it and can't see how stuff like car repairs or home repairs can be unexpected.

 

[hsmamato2]

That said, car repairs, home repairs, and medical bills are not unexpected. All of those are to be expected at some time. So, why is a vacation fund being funded before car repair or home repair funds are?
Those things are expected, and should be expected far more than going on a vacation.

agreed

 

[crisi]

Forgive me because I do have debt and don't have anything saved up, but I am working through it and have an incredible plan.....

That said, car repairs, home repairs, and medical bills are not unexpected. All of those are to be expected at some time. So, why is a vacation fund being funded before car repair or home repair funds are?

I'll give some leeway on the medical, but car repairs and home repairs are going to be a definite given.

When all is said and done with my financial plan, I will have probably far more in my home repair and car repair (also going to be a replacement) funds than I have in an emergency fund. The emergency fund is for loss of job. Something would really have to be catastrophic to use the emergency fund, not just because I suddenly need brakes on the car. Those things are expected, and should be expected far more than going on a vacation.

Like I said, I'm not there yet, but I'm working on it and can't see how stuff like car repairs or home repairs can be unexpected.

She did set aside money for home and car repairs, but more of them happened this year than expected.

I do risk analysis for a living - well, its part of my job. The way you do this "officially" is you say....

There is a 20% my car will need a major repair this year and cost $3k, reserve $600.

There is a 40% chance my roof will need to be replaced. We are on year 11 of ten year shingles - I might get another year or two out of it - thats $20k = reserve $8k.

There is a 10% chance I'll have unexpected medical expenses, my deductible is $6k = reserve $600.

You set aside $9,000.

Then you set aside some more "stuff blew up that wasn't expected money."

And you are screwed if the roof needs to be replaced and the car has major repairs.

We like to believe that if we save enough we will be safe. But you know what, it isn't true, unless you are Bill Gates, chances are pretty good you can't save "enough" for every possible emergency. And eventually you need to balance savings with living. The OP did everything right - she had her rainy day fund. She paid for vacation in cash - she just had a "bad year" and now her rainy day fund is exhausted. But the thing with risk analysis is its a probability game - chances are pretty good that having all this bad stuff happen this year, next year there will be a lot less of it, and she'll be able to rebuild the fund. When everything goes wrong, the next year the roof doesn't need to be replaced - its under warranty. And the cars transmission is good for another 30k miles. There may be new risks, and you are constantly reviewing and reserving for them. But you do crawl yourself out of the hole - a lot more successfully than if you had to put the new roof on the Visa card.