Minor Emergency – YNAB saves the day!

August 29, 2013 at 1:23 am 2 comments

Milestones are overrated…

I was about to reach a milestone this month, through the use of YNAB.  I’ve been watching my Net Worth climb since I started using YNAB back in March.  My debt has been slowly decreasing…  I get paid at the end of the month, so I’m automatically living on last months pay.  But my Net Worth has still been below zero, for these 5+ months of using YNAB.

Finally, I was about to hit a milestone.  August of 2013 would be the first time that my Net Worth was above 0 at the end of a month.  But then…

Here comes Murphy…

I was so excited about this milestone that I already had a blog entry about it, scheduled for publication tomorrow.  So what happens?  Murphy happens, that’s what.  Today, while I was off at work, our lawn guy came.  While mowing the lawn, a rock got launched and shattered a rear side window in my Honda van, taking out only a very small piece of the glass, but it was spiderwebed.  I knew all to well that this was expensive to fix, since the same thing happened a couple years ago.  That time, I called around numerous places to find the best price.  And, boy did the price range vary widely.  Some wanted as much as $600, but I found the best price to be about $325.  So today, my first thought about fixing this was “Where will the money come from?” as I knew my auto repair budget was not going to cut it.

My first use of the Emergency Fund…

This is something that needs to be fixed, and quickly.  Just the act of driving around will make this worse, as we saw before.  I don’t want small glass fragments littering my driveway, or the interior of the van, just waiting to be found by my kids.  I realized that this was the perfect candidate for spending from the Emergency Fund.  I’ve been adding money to it, trying to built it up, over the last few months.

Sure, it’s not a broken down A/C unit in the middle of a scorching heatwave with a newborn at home, or a major mechanical issue that keeps the car from getting me to work (both of those would be pretty MAJOR emergencies), but keeping my kids away from broken glass is a safety issue, and I don’t want my wife worrying about pieces of the window falling out as she drives (increasing the change of an accident), not to mention the potential for water damage to the interior of the van.

YNAB saves the day!

I couldn’t help but think how stressful this incident would be for me if we didn’t have YNAB.  This time of year is already financially stressful.  School has just started back, so that means tuition, new clothes, school supplies, and other related costs, and in a few weeks, our homeowners insurance is due.  In years past, this would have immediately resulted in more debt, as I would have paid for it out of my salary, meaning I would have less money to pay off the credit card bills when they arrived.  Since this is how I usually handled paying for my homeowners insurance as well (yes, bad plan, I know!) it would have just added on top of an already rising pile of debt.

Fortunately, we’ve saved up enough using YNAB that we are ready for the homeowners insurance, and thanks to our Emergency Fund, we can cover this unexpected expense without getting stressed out.

Now, I need to budget to buy a lawnmower…

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2 Comments Add your own

  • 1. TouchMyApps (@TouchMyApps)  |  September 1, 2013 at 1:57 pm

    Just started using YNAB a few days ago and still trying to wrap my head around it. After reading tutorials and watching online vids though, it’s starting to make a lot more sense. And reading how you were able to dip into the emergency funds after the window mishap is great to hear!

    Reply
    • 2. ptaylor  |  September 1, 2013 at 10:20 pm

      It’s really an amazing system. I can’t express enough how thankful I am that I found YNAB.

      Reply

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