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Showing Some Financial Grace…

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I wrote last week about my trailer dilemma and it appears as though more facts were needed.

1) We have 6 months in our emergency fund.
2) The trailer took 2 months of that, kicking us down to 4 months of emergency fund.
3) Once the old trailer is sold, those funds will be put immediately back into the emergency fund and kick it back to 6 months.
4) I never called this an emergency. I was trying to figure out how folks buy replacement vehicles without making a temporary dip into emergency funds.

Perhaps I didn’t lay it out correctly? I outlined the trailer purchase but the issue of car replacement will be the same. My husband drives a truck worth $10K. We will be upgrading to a $20K truck in a couple years. We will save $10K (plus extra for taxes/etc) and an extra $2K in case we overvalued his truck for a total savings of $12K. We will purchase a $20K truck leaving us $8K short. We were planning on short term borrowing from the emergency fund but we were blasted for that opinion.

Is it the general consensus that:
1) We save the extra $8K rather than consider the value of the truck?
2) Or purchase from a dealer (which would be more expensive than private sale) and trade our truck in and lose the money we would have made selling it ourselves?
3) Or take out a short-term loan from a bank and pay interest in an effort to keep cash in our account?
4) Or always wait until our vehicles are valued next to nothing prior to upgrading?
5) Or (I thought this was the most reasonable) attempt to work with one car and if needed, rent short term.

All in the name of risk mitigation?

Sadly, there isn’t a perfect answer. Hence the debate. I chose the one that made the most sense to me and kept the most money in my pocket long-term.

I was also surprised at how many people brought up the post about the puppy and expressed concern about my ability to identify a true emergency and my irresponsibility with finances. I’ve been debt free for 3 years. I have had a 6-month emergency fund for 2 years that I’ve never touched (I was able to pull the $100 in vet bills – a true emergency – from other areas of my budget because I’m extremely reluctant to touch it). I think it’s OK to say I wondered if pet replacement is an emergency during a period of deep sadness. I’m human. At what point am I not considered a total financial moron? Ten years debt free? 15?

I am revising my statement in that post from “I am making a stupid call on this…” to “I am making a calculated risk”.

A hearty thanks to those who didn’t beat me up for my decision. Thank you for extending grace. Thank you for understanding that not everything is black and white.

To all the others, I’m sorry if I seem harsh. I have the flu. I’m cranky. I’m working on thicker skin. I appreciate the exercise of looking at all the options…but let’s not throw the dog (something I never moved forward with) in my face. I’m still struggling with that loss.


You know you are overwhelmed and taking on too much when…

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You mark down that you paid it. Watch for the payment to come out of your bank account. And wonder why they are taking so long to deposit it.

But have really failed to pay your utility bill – your gas, water, sewage and trash pick up bill (all in one.) Yup, just discovered this morning that I failed to send the payment.

Ugh!

Jumped on my bill pay app real quick and scheduled payment for this Thursday, but I’m sure I will incur a late fee since I think it was due on the 10th.

And the thing is, I turn things green when I have the exact amount due. And then I turn them yellow when I’ve scheduled payment. So I know what is owed and outgoing and upcoming at any given moment.

But I really dropped the ball here! I would like to blame it on the crazy of working, driving Princess to and from and caretaking for my mom and grandmother the last two weeks. But my mom arrived on the 9th, so really I should have scheduled this payment before that. (At least that’s what I recollect.)

But I will tell you what…caretaking is not for the faint of heart. Or the impatient. Or the over-tired. But it has been good in many senses too. This is the most time I’ve spent with my mom in years. And even though she is loopy at times…her first question when I arrived was “where did I sleep last night?” And yesterday she was talking to my dad…and waving at him, and he is in Texas. It has been good.

And I’ve just got to make it through this week until things will go back to “normal.” Now I’m off to double check all my other “paid” bills to make sure I actually have scheduled payment.

PS – My grandmother came through her 4 hour surgery just fine, they removed 4 teeth and part of her gums and jaw. She will be on a “no chewing” diet for a while. Thankfully it is soup season. And the doctor is hopeful he got all the cancer.


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