Tweet
Our furnace failed a few days ago: the "fixed speed draft inducer assembly" stopped working due to a frozen bearing. Being somewhat handy, I was able to remove it, lubricate the bearings, and get a few more hours out of it. Unfortunately, it was too far gone to make it through the night, and we woke up to a 55F house.
Having an emergency fund for this purpose worked out perfectly. I was able to go to the bank, withdraw the cash, pay for the part, and install it myself for $250. If I lacked the skills and had to have service done, it would have cost around $600, and we would have still been covered. I even commented to my wife, "We'll use the EF...that's what it is for."
Yes, we could have charged it, but having the earmarked cash on hand made the situation pleasant, if such a term could be used for dealing with no heat.
Having an emergency fund for this purpose worked out perfectly. I was able to go to the bank, withdraw the cash, pay for the part, and install it myself for $250. If I lacked the skills and had to have service done, it would have cost around $600, and we would have still been covered. I even commented to my wife, "We'll use the EF...that's what it is for."
Yes, we could have charged it, but having the earmarked cash on hand made the situation pleasant, if such a term could be used for dealing with no heat.