Someway, Somehow – I’m Not Panicking!

I went in on Tuesday to get my oil changed.

When your car is 9 years old, the thought of getting your oil changed can cause small palpitations: “What is wrong NOW?!

Fortunately for me I knew (seeing as my car is at 113k miles) that my 120k mile service was coming up and instead of just waiting for the long, long list of “recommended” things – I preempted the service guy by asking what I needed to have done for my 120k mile service.

He went over the list of recommended things at 120k miles and then pulled out the things that I didn’t need because of maintenance/replacements I’d gotten done over the past two years (this is why I LOVE going to the same people, they can tell you exactly what you need done based on the service they’ve already performed).

The basic 120k mile service came up to $676 with tax, parts and labor. With the adjustments based on what I need considering previous maintenance, the 120k mile service will “only” cost me $436 (with tax, parts and labor).

However, I also found out that I’ll need to replace my tires soon. This isn’t too surprising. It has been about 5 years (approx. 65,000 miles) since I replaced my tires. It is time for new ones. They even showed me the very, very balding spots on the tires and the parts where there wasn’t even any tread left. It was clear to see that these tires need to be replaced. Soon.

They recommended to be a pretty nice all-weather tire that is of comparable quality to the tires I have on my car. They’re $132 each, buy 3 get 1 free. Including all the little tire fees, mounting, etc, the new tires will come out to $450.

So in total in the next 3-4 months I’ll need to spend $886 on my car for maintenance.

Normally, this would bring me to a panic and make me hyperventilate.

Here is the good news:

None of this has to be done right away. The only pressing matter would be the tires if one of them went out. Even then, I have $520 in my E-fund so I can easily cover replacing the tires alone.

Currently, I save $60/month towards for car maintenance. Since I know that every year I have to spend some amount of money on my car, I have just started saving for it! $60 per month for a year means I have $720 available to me in my yearly savings account to pay for the 120k mile service and the new tires. That means that I’ll only have to come up with $166 out of pocket.

$166? Well, that seems like hardly anything worth getting upset or panicky over. My E-fund can easily cover that expense!

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7 Responses to Someway, Somehow – I’m Not Panicking!

  1. Yay E-fund!!! Yay targeted savings!!!

    I love the way advance preparation makes things that used to cause panic just annoyances.

  2. What a great example of how targeted savings pays off. Do you automatically transfer $60/month into a special sub-account labeled “car,” or do you manually transfer that money into a big “emergency” fund and keep the breakdown ($60 is for car, $30 is for broken applicances … ) in your head?

  3. Serendipity says:

    I love how you have an e-fund and then a car fund. That is exactly why I started one. I’m happy I can use that money for maintence/gas overage instead of crunching my budget. Yay for planned savings!

  4. Pingback: Road Trip! ? « Small Steps for Big Change

  5. A car fund. SMART!

    Although I think that when money is more flexible and as your car ages, you should start building your car fund higher. As your car ages, it’ll likely need even more maintenance so you might want to eventually bump the fund to $75/month or $100a month.

  6. Christa says:

    Awesome job on the car fund — way to think ahead! I’m not so clairvoyant…I should really start my own car fund.

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