I'm curious what the general approach is for people that have dedicated savings accounts for certain items in their household. Say you have an emergency fund going, or know that a roof/HVAC might need replacing in 5-10 years and you budget for it. When that time comes and your account is fully funded, do you make the purchase or do you wait for it to break and deal with it short notice?
I'm guessing most will look at it as an emergency fund and not touch it until they absolutely need to, even though it might cost less or result in a better finished product via planned replacement.
This summer I got an unexpected check and pre-funded a roof account and a HVAC account with $1,500 each, both getting $50 bucks added per month. In 5 years or so I should have the bulk needed to replace an old AC system from its account and maybe 8-10 years for the roof. Never approached it this way in the past, but figured it can't hurt.
Submitted February 07, 2017 at 10:34AM by dietcokefiend http://ift.tt/2jYAXLD
