Avoid Going Into Debt When Disaster Strikes
Posted by Lynnae on September 19, 2007
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You’re at home on the weekend getting caught up on the chores. You wipe down the sink, sweep the floor, and then open the dryer to fold the clothes. That’s when you realize that something is terribly wrong. Your clothes are still wet. You don’t have an emergency fund. What are you going to do?
No! Don’t reach for that credit card! Don’t open a line of credit at Sears! Try these things first.
- Ask yourself if you can do without the dryer while you save the money to get it fixed or buy a new one. Is it possible for you to line dry your clothes? If you don’t have a lot of laundry and live in a mild climate, that might work. If you have 6 kids, a small house, and it’s the middle of the rainy season, it probably won’t. So…
- See if you can barter with a friend to help you out. Do you know someone who can repair a dryer? Do you have a skill you could offer in return? If so, talk to your friend to find out if bartering is an option. In the past, my husband has traded guitar lessons for car repairs. You never know what kind of a creative trade you might be able to work out.
- Check Freecycle. You wouldn’t believe the kind of stuff people give away! You might not get the latest and greatest dryer this way, but you could probably find something that does the job. And it won’t cost you a dime.
- Check Craigslist. You could probably find an inexpensive dryer on Craigslist. Though not completely free, it costs a lot less to buy a dryer off Craigslist than it does to buy a brand new dryer from Sears.
There are other places you could check for a solution, like your local paper, eBay, or even an auction house. The point is that it’s important to carefully think through your options when you have an emergency. Too often when something breaks, we have the urge to run out to the store immediately and charge the purchase on our credit card. After all, it’s an emergency. Something broke, and we can’t live without it.
But often we can live without it, at least temporarily while we save money to replace it. So the next time you have an emergency, don’t automatically reach for your credit card. Think through your options, and choose the most frugal one. And build up your emergency fund as quickly as you can, so you aren’t tempted to use your credit cards in the first place.
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I am not a financial expert. I'm just a wife and mom doing the best I can to live a frugal life and get out of debt. Like any human, I make mistakes. I write this blog out of my own experiences, and nothing I write should be taken as expert advice. If you need financial advice, please consult a professional.
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“Too often when something breaks, we have the urge to run out to the store immediately and charge the purchase on our credit card.”
Yep, that is so true. Our lawn mower just broke and our first thought was to find the best deal around thinking we’re being frugal. I totally forgot to check out Freecycle or CL first, although I gave away a bunch of stuff through those sites before.
Our previous thinking was “well, it will cost at least 100 for them to come out and repair it, let’s just spend 500 on a new one” Ugh, how horrible! LOL.
I got so lucky last year when my washer broke. I was prepared to use my savings to buy a new washer, but someone at my dh’s work had one up at their shop that was brand new/never used, but it was over 3 years old. It’s much smaller than I would like, but it was FREE and it works great. I’ll use that one till it breaks then re-asses my situtation.
Great tips, but don’t forget that when you are more fortunate, that YOU can help others out too.
Heidi, you are absolutely right. I think that even when our budgets are cut to the bone and we feel like we don’t have anything to spare, we need to be thinking about how we can bless others. It not only helps others, but I think it helps our own attitudes when we are constantly thinking about what we can give, rather than what we can get.
Great tips. You are absolutely right about the impulse to just run out and buy a new one.
Words of wisdom. Fortunately, my hubby is very handy, so he can often fix stuff when it breaks. He was the state small engine champion in 9th grade, after all.
We also have bought several used appliances over the years. It’s a really good option. My husband had been dying to buy a deep freeze for ages, and then he came across a friend selling one for 50 bucks. Perfect! A Habitat for Humanity ReStore just opened in our town, and I’m so excited about it! Lots of towns have them, and they usually have perfectly good appliances people took out of their houses when renovating.
Why not just go to the laundromat !