It still hurts guys. It still hurts that I had to pay so much money this week to get a clutch replacement for my car.
Today I’m going to share how saving money on a monthly basis helped me be ready to pay R11,000 for car repairs.
I had done an annual car service in October and was told that my car needed a clutch replacement – the quote that the dealer gave me was a little over R12,000. I was advised by friends to get a second quote – the second quote from another car service shop was just over R10,000. So, I saved R2000.
I decided to withdraw R11,000 from my emergency fund – this is how saving money into this emergency fund was a blessing. My car was with the mechanic for two whole days, so I had to use a taxi service to travel to work for those two days.
It hurt that I had to get money from my emergency fund because currently this is also where I save money for my child’s future education. I realise that I have to get separate fixed saving accounts, one for the education fund and secondly, for the emergency fund.
REACHING A MILESTONE FINANCIALLY
Even though it made me a little anxious to give out so much money on car repairs, I realised that saving the money made me less stressed and I was prepared for an emergency. I had peace of mind and I didn’t have to get a loan to pay money on car repairs.
I also realised how saving money on a monthly basis is a milestone I have reached in my debt free journey.
I hope that the next milestone would be that I won’t hurt when losing money – I think this will happen once I’ve reached a certain financial goal, it will be once I have more than enough saved in my emergency fund, so much that it won’t feel like I’m starting all over again when I lose money on an emergency.
ALSO READ: What Financial Independence Means To Me
Have you reached a financial milestone recently? Please let me know in the comments below.