Unexpected Expenses - Thank goodness for an Emergency Fund

[Cynt]

I'm so bummed. My father passed last summer and left me a house. We were using his riding lawn mower to cut the grass around the house, about 2 acres. Well it died last week. Huge decision to get it fixed, purchase a new one or hire someone to cut it. Boy o boy are they expensive.

We bit the bullet and purchased a new one. We have money in our emergency fund but man was that a HUGE pill to swallow. I didn't even go with my husband to purchase it. I just couldn't do it.

I'm grateful we had the money but it's going to take me a few weeks to get over it.

 

[focusondisney]

Yea that’s the bad part of homeownership. Things come up out of nowhere that cost big bucks. I can sympathize. My husband noticed a problem with our sump pump discharge this spring. It’s costing about $5K to get a new drain system dug & tied into the town line. Totally unexpected cost above & beyond the big projects we were already planning for (new driveway & bathroom update). Still getting estimates on those, but they’re more than I was expecting too.

 

[wweazel]

I'm so bummed. My father passed last summer and left me a house. We were using his riding lawn mower to cut the grass around the house, about 2 acres. Well it died last week. Huge decision to get it fixed, purchase a new one or hire someone to cut it. Boy o boy are they expensive.

We bit the bullet and purchased a new one. We have money in our emergency fund but man was that a HUGE pill to swallow. I didn't even go with my husband to purchase it. I just couldn't do it.

I'm grateful we had the money but it's going to take me a few weeks to get over it.

far less expensive, but still a hassle:
battery in my car is dying, it's the last week of school and busy at work, so I'm just driving the teenager old car for a couple days until I can deal with mine. This morning that one won't start either! Trying to jump with the jumper box set off an alarm - so now I'm waiting for AAA- I wonder if they will replace 2 batteries in one service call? Their battery price is $199., so at a minimum I have a surprise $400. today. :-(
like you said - thankful for emergency fund.

 

[barkley]

been there, done that, doing that-

the year our roof partially collapsed due to snow-sure, insurance paid the bulk but there was still our deductible which ended up be met in large part due to being in a hotel for several days when we were evacuated by the fire department (our lodging, food, and some toiletries/clothing to get us through were covered by our insurance but not until deductible was met),

appliances and mechanical systems going kaput

currently-hot tub having to be entirely re-plumbed due to an electrical issue that killed the heat during sub zero temps that subsequently burst all the pipes. cost is close to what we paid for it 16 years ago BUT 1/3 of what we would pay to buy a replacement (and if we decided to forgo and get rid of it-cost would be about 1/2 of repairs).


BIG FAN of emergency funds.

 

[AnnaS]

Welcome to the homeownership club......

 

[barkley]

not exclusive to home ownership-over the course of the last calendar year my oldest has experienced:

an unexpected $1800 car repair
2 medical leaves-one anticipated so emergency fund plumped up and vacation/sick banked to cover as much as possible but ended up off work 6 weeks longer and short term disability paid about 50% pay (after taxes), second one (work exposure covid followed by long term covid syndrome) resulting in close to 3 months off of which short term disability only covered 2 weeks of, again at 50% post tax AFTER the 1 week waiting period (employer is exempt from participating in state administered short term disability insurance program which would have covered even at a paltry financial level). emergency fund was the means for financial support and meeting expenses.

was starting to get emergency fund yet again back in place and had a job loss-despite providing everything unemployment asked for w/in 24 hours it took 13 weeks to get monies (they acknowledged no error on claimant part, that claim was approved and payable but 'we are still backed up due to the pandemic...we are understaffed...please be patient').

emergencies come in all shapes, sizes and dollar amounts.

 

[QueenIsabella]

I feel your pain! Last week, it was the hot water heater ($1800).

This week, it's been the A/C ( "only" $165 because the part was under warranty, but one of the other units blew its compressor, and uses a type of freon that's now illegal, and you can't put in a compressor with the new freon and have it be incompatible with the old system--quote will be incoming. More $$$ outgoing to follow.)

Yesterday, DS17 got his wisdom teeth pulled under sedation. Our portion? $837

On Friday, people are coming to replace the dehumidifier under the house. $5500

DS26's car is in the shop. "Maintenance Required" light was on. Cost TBD.

Did I mention that I have 3 kids taking college classes? Tuition due in August! Yay!

On the good side, we have reserves. College has been earmarked. Poor DH, he's wanted to replace the rickety picket fence out back for a few years, and this was supposed to be the year. He's going to go to Home Depot, see if he can get supplies to nurse this one along.

I understand the whole Dave Ramsey "start with a a $1000 emergency fund" thing, but really--that wouldn't get me through this entire week.

Did I mention that my indigent brother died, so we all have to travel for his memorial service, and my sister and I splitting his final expenses? That's next month's not-so-emergency (he died in April). It's always something.

 

[barkley]

I understand the whole Dave Ramsey "start with a a $1000 emergency fund" thing, but really--that wouldn't get me through this entire week.

our rule of thumb has always been to try at minimum to have the highest deductible in our fund-which for us is our homeowners-much more than $1000. we do a reserve fund as well that we direct deposit into monthly to cover odds and ends (this year-electricians, plumbers, hot tub repairs, generator repair...).

Did I mention that my indigent brother died, so we all have to travel for his memorial service, and my sister and I splitting his final expenses? That's next month's not-so-emergency (he died in April). It's always something.

when my indigent brother died we received a well worded notification from the coroner's office in the county he passed (he was estranged from everyone in the family and his emergency contact never returned the repeated messages coroner had left). it was a well worded notification that offered 'condolences' but also recited verbatim that state's law that required family (even far flung-down to distant relatives so long as they could find relatedness) to arrange and pay in full for disposition of the deceased with proof to the coroner within 5 business days or that county would make arrangements at whatever cost they chose with one of their contractors which would trigger a referral to the local district attorney for our prosecution on a state health and safety code which is a misdemeanor that includes, at minimum, a penalty of 3x the cost of the county's choice of disposition.

ummmmmmm yup-so if anyone has any indigent family, at least in the state of california, figure that into your emergency fund.

 

[QueenIsabella]

our rule of thumb has always been to try at minimum to have the highest deductible in our fund-which for us is our homeowners-much more than $1000. we do a reserve fund as well that we direct deposit into monthly to cover odds and ends (this year-electricians, plumbers, hot tub repairs, generator repair...).


when my indigent brother died we received a well worded notification from the coroner's office in the county he passed (he was estranged from everyone in the family and his emergency contact never returned the repeated messages coroner had left). it was a well worded notification that offered 'condolences' but also recited verbatim that state's law that required family (even far flung-down to distant relatives so long as they could find relatedness) to arrange and pay in full for disposition of the deceased with proof to the coroner within 5 business days or that county would make arrangements at whatever cost they chose with one of their contractors which would trigger a referral to the local district attorney for our prosecution on a state health and safety code which is a misdemeanor that includes, at minimum, a penalty of 3x the cost of the county's choice of disposition.

ummmmmmm yup-so if anyone has any indigent family, at least in the state of california, figure that into your emergency fund.

On the good side, for us--although my brother wasn't in touch with family, he'd given my sister's name and number to his landlord, who's his executor/had POA. The landlord called us when Brother was admitted to the hospital, so we were in the loop--nice guy, he let us make the end-of-life decisions. Sis is in the area, so she's handled whatever costs so far, but I told her we'd split it. I'll see her next month for the memorial, we'll settle then--I've offered several times to send her something now, but she's okay.

Our other brother, OTOH, expects Sis and I to spring for his plane ticket and expenses if we want to see him at the memorial service. That's a hard "no" from me!

Meanwhile, DS26's car set me back $462. But, he's thrilled with how well she's running.

 

[Cynt]

I have a home and have been a home owner forever. I haven't figured out yet what I'm going to do with my dad's home. They say don't do anything for a year. It will be a year next month. So we'll see.

Hugs to everyone. I knew you guys would understand. Thanks for letting me vent.

 

[barkley]

I have a home and have been a home owner forever. I haven't figured out yet what I'm going to do with my dad's home. They say don't do anything for a year. It will be a year next month. So we'll see.

Hugs to everyone. I knew you guys would understand. Thanks for letting me vent.

it's never easy.

 

[TheRustyScupper]

We bit the bullet and purchased a new one. We have money in our emergency fund but man was that a HUGE pill to swallow. I didn't even go with my husband to purchase it. I just couldn't do it.

Obviously, come along business or personal "OOPS" times.
1. For big bucks, we make the analysis.
2. Do we use the Emergency Fund or just pay a person.
3. We do not want to deplete our capital.
4. We have a lower balance we set long ago.
5. If we went below that, what if another "OOPS" hits? **
6. Just what we need is further outlays.

** NOTE:
. . . I had a severe health issue this mid-May.. . .
. . . Am currently bed-ridden with major mobility problems.
. . . Home Healthcare is helping greatly.
. . . I cannot get in/out of my car or wife's car.
. . . She went out and bought a minivan for my wheelchair.
. . . Without such car access, I would remain house-bound.
. . . Thank Goodness for the Emergency Fund.
Am "discussing" with wife to keep my Benz rag-top.