Last week when Mr. S picked me up from work he sighed and said he had bad news. Bad news almost always ends up being an unexpected financial thing, and this time was no different. Our jeep was making a very strange noise and he was worried about driving it. We immediately started talking about what our finances looked like and what we would do if we had to buy a new (to us) car… *gulp* This is totally not the type of conversation I wanted to have right before the Thanksgiving holiday started and definitely not the one I wanted to have with the holidays approaching. I don’t know about you, but it seems like every single time that we start to get ahead something comes up. Having to purchase a new car in the next few months is definitely not what I wanted to do. Not to mention we have great family road trip memories in that jeep…
Sneaking cuddles while we wait for Mr. S to come back with morning road trip snacks…
Luckily for us the mechanic was able to fix it, but it still cost a pretty penny and meant riding around in his sports car with a toddler for a few days. It also means that lots of people will receive handmade gifts this year. My fingers and wrists are going to be so sore and gifts will probably be kind of late, but it’s the thought that counts right? Before we knew the damage, we sat down and came up with a plan for purchasing a new (to us) car in 2015. We decided to open yet another savings account, but this one will be specifically for the car’s down payment and each pay period we’ll both put a designated amount in the account. It will mean losing some of our individual discretionary funds, but when it’s time to purchase a new car we’ll have a larger down payment, which means a smaller car note.
Do you have multiple rainy day funds or just one? How do you save for the future? Capital One 360 is encourage consumers to stay on track with their finances, by decking the halls with deals you can bank on, including new account bonuses, referral bonuses and closing cost credits. Visit Capital One 360 and find out how to give yourself the gift of financial peace this holiday season.
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.
