Last week I was so excited that between tax returns, windfall, and a few other things...we had amassed $4326 in "extra money." I have this whole post written about our plans....but it sort of went out the window.
We basically had $1150-ish already spoken for (money owed to state, even though we already paid $4600 in state), bathroom floor, new tires for my car (estimated at $600), and we ESTIMATED $250 for the check engine light issue for G-man's car (more on this in a minute).
We decided to leave $350 in EF, where it has been residing already. We were now down to $2800. We debated many different things including debt repayment, savings, put toward the future oil to gas conversion for the house, retirement, and most recently replace the fence in the yard that is destroyed. In the end debt won.
I figured out that putting $2800 toward G-man's car, it pays half of it off. With continued month payment, and the money we are putting aside from G-man's job ($682 as of today!), we would have the car paid off by the end of the year. While it only shaves a few months off of the bottom line to be debt free, we were excited to knock that out this year.
Back to the check engine light.....
Turns out it is the catalytic converter. For the record, I didn't even know what it did (I had only heard the term) until someone told me. Well, I found out very quickly that these suckers are expensive!!!!
Yeah....$1563. It was $113 for the diagnostics yesterday, and I am not sure if that $1563 included the diagnostic (G-man texted me right as I was going into a meeting). Either way....our $250 just increased 5-fold.
I am trying not to be too upset. We have the cash available for repair. It won't derail anything (it certainly doesn't help...but it isn't derailed). A few years ago this would have put me into a tail spin. But the timing at least worked in our favor.
I am mildly annoyed that we are having to sink this much money into the car. I know many people will disagree with me....but when we are at a point of replacing cars again....we are going with either a new, or almost new car. I know they depreciate as soon as you drive them off the lot. But I would really like to have a car that, in theory, won't need work for a very long time.
So our $2800 is now in the $1400 range. We haven't fully discussed it, but most likely $1100 will go to the car debt, $100 toward the dental bill (which with this months payment will be paid off) $100 into a few supplies for cleaning up the yard, and $100 that we will split as "treat" money for us.
The car won't get paid off this year, unless something unforeseen changes. It only shaves about 3 weeks off the bottom line, so our debt repayment date hasn't really changed at this point. It is tempting to say screw it, and just do something else....but alas, this is what we will do.