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These past 3 weeks have been really rough on DH and I:
1) new transmission for Vibe, used car emergency fund for that, but still had to kick in 200 bucks extra
2) new brakes for both cars, which would have been covered under the car emergency fund if not for transmission
3) new battery for Vibe after it died for no reason whatsoever
3) farm truck needed new gas tank, new fuel pump, and the 4-wheel drive fixed, estimated cost 600 bucks.
4) plow for truck broke, literally, and can't be welded. So, we need to buy a new plow before snow-fall (our driveway is 650 feet long). Cost for a used plow ~2200
All of these expenses hit us bam, bam, bam, with no break. The only thing we knew about beforehand and planned for were the brakes and other general maintenance costs. We never expected the plow to just break. So, my question is this:
We have 3000 in our general emergency fund. We are still working our snowball, but we wanted to have more than the 1000 in case one of use lost our job. We could take the money out of our fund to cover some of these costs, but we wouldn't drain it completely. We are really uneasy taking any out because of this economy. DH is a machinist, and while there hasn't been any outward talks of lay-offs at his shop, they could hit at anytime. They have cut back some people's hours already. Thankfully, not DH's, but you never know. So, we were thinking about taking advantage of a balance transfer off from Citi--2.99% for 12 months with max fee of 99 dollars. This would give us a year to pay for this plow, which we could do in less. We just can't come up with the cash before the first snow.
Opinions?
P.S we have no credit card debt currently.
1) new transmission for Vibe, used car emergency fund for that, but still had to kick in 200 bucks extra
2) new brakes for both cars, which would have been covered under the car emergency fund if not for transmission
3) new battery for Vibe after it died for no reason whatsoever
3) farm truck needed new gas tank, new fuel pump, and the 4-wheel drive fixed, estimated cost 600 bucks.
4) plow for truck broke, literally, and can't be welded. So, we need to buy a new plow before snow-fall (our driveway is 650 feet long). Cost for a used plow ~2200
All of these expenses hit us bam, bam, bam, with no break. The only thing we knew about beforehand and planned for were the brakes and other general maintenance costs. We never expected the plow to just break. So, my question is this:
We have 3000 in our general emergency fund. We are still working our snowball, but we wanted to have more than the 1000 in case one of use lost our job. We could take the money out of our fund to cover some of these costs, but we wouldn't drain it completely. We are really uneasy taking any out because of this economy. DH is a machinist, and while there hasn't been any outward talks of lay-offs at his shop, they could hit at anytime. They have cut back some people's hours already. Thankfully, not DH's, but you never know. So, we were thinking about taking advantage of a balance transfer off from Citi--2.99% for 12 months with max fee of 99 dollars. This would give us a year to pay for this plow, which we could do in less. We just can't come up with the cash before the first snow.
Opinions?
P.S we have no credit card debt currently.
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