My car fund is going to be a major focus in 2010. I currently have about $1,400. Though it could be wiped out by a massive repair bill! Sometimes I feel like it is a game — can my car last until my car fund is ready, or will some major problems crop up first? I hope I win!
I take a very un-L.A. attitude towards cars: I’m extremely disinterested in them, and I don’t know a lot about them, and I don’t care much about them. This has allowed me to keep driving my college car (now 10 years old and approaching 100k miles) for years. I’m convinced this has saved me s ton of money over the past few years.
Still, my car will be replaced eventually. For an older car, it hasn’t need too many repairs: $300 for brakes in the middle of the year, plus oil changes. I spent $152 on registration, and that’s about it for the year. It is due for a timing belt at $110k, and things could start breaking any time. I’m hoping it will stay healthy through 2010, and in 2011 we’ll consider a newer one.
I haven’t set a firm goal for my car fund, but I can tell you all my extra cash (post honeymoon, post wedding) will be going there. I’m looking to spend about $15k on a used something or other, but that is very much TBD.
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