My water heater gave up the ghost at 4 AM on a Tuesday

Woke up to a cold shower and a small lake in my basement. The thing was 12 years old, so I guess it was time. Called a guy, and the quote to replace it was $1,800, which is a fun surprise bill. I had to take a half day from work to deal with it all. Anyone have a good strategy for saving up for these 'house just decided to cost money' moments?

4 comments

4 Comments

the_wesley1mo ago

Set up a separate savings account just for home repairs. Put a little money in it every month, like a bill you have to pay. It takes the sting out when stuff like this happens.

joel_clark371mo ago

That "fun surprise bill" feeling is the worst. Been there with a dead furnace in January. @the_wesley is right about the separate account. I call mine the "house hates me" fund. I auto-transfer a hundred bucks every payday. It doesn't feel like much, but when the fridge quits or a window seal goes, the money is just sitting there. It turns a panic into a minor annoyance.

piperbailey1mo ago

Honestly, is a separate account really worth the hassle? The_wesley's plan sounds like extra work for something that might not even happen.

knight.dylan1mo ago

People always wait for the emergency to start saving. @the_wesley has the right idea, it's just paying yourself first.