How To Plan And Budget For Unexpected Car Repair

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2 Ways to Rev Up Your Budget for Unexpected Car Repair Bills

AAA is now urging drivers to budget for unexpected motorcar repairs.

A recent survey from the nonprofit federation of motor clubs plant that 64 per centum of American drivers would exist unable to pay an unexpected car repair bill without racking up debt.

To avoid becoming part of that statistic, AAA recommends that you lot accept the following steps earlier you run into an unforeseen motorcar expense:

Save at least $50 a month for unforeseen expenses, which is based on the average auto repair cost — $500 to $600.
Follow the manufacturer's recommended maintenance schedule, which will help avoid roadside trouble.
Find a repair store y'all trust — you'll find everything you need to know in "13 Steps to Find an Honest — and Qualified — Machine Mechanic."

In one case you run into car trouble, AAA recommends that you:

Get a written estimate for the repair.
Consider getting a second opinion.
Negotiate the repair beak with the mechanic.

Last month, nosotros reported that 37 pct of Americans could not pay for an unexpected medical bill of more than than $100 without going into debt.

Last year, we reported that 48 percent of Americans don't accept enough cash on hand to cover a major purchase like a refrigerator.

Are you sensing a theme?

Build a budget

If you aren't already tracking your expenses or budgeting for future ones, consider making that your first pace toward planning for unforeseen expenses.

Money Talks News partners with the free budgeting service PowerWallet, and yous can read more about budgeting on our site:

"8 Secrets to Edifice a Upkeep That Works"
"5 Strategies That Brand Information technology Fun to Live on a Upkeep"

Build an emergency fund

As we recently noted in "Beware These 12 Common Money Mistakes," you're walking a tightrope without a prophylactic net when y'all have no emergency fund.

Ideally, you should fix bated enough money to cover your cyberspace income for seven or eight months. For example, if you lot earn $four,000 a month after taxes, your emergency fund should exist $32,000.

But even a smaller amount of spare cash can still serve as a buffer when your budget suffers an unexpected expense. For example, a reserve of just $600 would ensure yous could pay for the average unexpected auto repair bill without going into debt.

To larn more, check out:

"nine Means to Build an Emergency Fund When Coin'southward Tight"
"Where to Detect Emergency Cash Right At present"

Could y'all encompass an unexpected car repair bill without going into debt? Tell united states of america near your strategy below or on Facebook.

This article was originally published on MoneyTalksNews.com as 'ii Ways to Rev Upwardly Your Budget for Unexpected Car Repair Bills'.

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