Shopping. How do you set aside money for a big expense (visit to the dentist, home repair, car repair) if you have no idea how much it might cost?

[oswaldcobblepot]

[Orion84]

I generally just try to make sure I have a decent "emergency" fund stocked up at all times, so I can handle any situations that aren't planned.

I don't plan for specific expenses. I just save money that is exclusively for non-monthly costs.

[oswaldcobblepot]

That's great, but... let's say you are worried you might not have enough. It could be a simple cavity or a root canal. Should you open a second credit card, apply for a line of credit, go into overdraft, delay the procedure to save up more money, etc?

[Orion84]

Those are tough choices, honestly.

I despise debt, so I suppose it depends on how urgent the situation is. If at all possible, I'd try to delay the procedure until I could afford it.

The rest of the options all increase the total cost, due to interest, or penalties fees, so I would try to avoid them at all costs.

If I absolutely had get the procedure/repair done urgently, I'd most likely apply for a personal loan, or a line of credit. At least you can pay those off, and ultimately end up helping your credit score, in the process.

I'd avoid opening another credit card at all costs, simply because then you're stuck with it, and have to continue to use it. Letting it go unused, or even trying to close it, will negatively affect your credit score.

[oswaldcobblepot]

Great advice. Im trying to get myself out of debt, so another credit card, line of credit, and overdraft is not something I really want to do. I might try and delay (postpone) the procedure until Im sure I can afford it.

[Orion84]

Good luck to you 👍

Debt is such a slippery slope, and it's one of the hardest, but most rewarding things to climb out of. Props to you for making the effort, and I hope it works out for you.

[oswaldcobblepot]

Thanks.

[Anonymous]

I always save money. Every month. I think about costs what I guess and plus a little bit more to be safe.

And I look. How much I can save and have enough to live and buy me what I need and want in daily life. You need to do happy things in life. Not only save everything all time of your life.

So now I save what I guess that is a must.

wasn't possible 10 years before.

No I try to do my best not to be poor and I will never be rich. I want to live in peace.

[petitedollbabee]

It’s better to have too much set aside than not enough. I always set aside a minimum amount per week, more than I think I’ll need.

[oswaldcobblepot]

That's great, but... let's say you are worried you might not have enough. It could be a simple cavity or a root canal. Should you open a second credit card, apply for a line of credit, go into overdraft, delay the procedure to save up more money, etc?

[petitedollbabee]

You should contact the dental practice and get a quote, there’s no reason for them to refuse giving you one. But for whatever reason they do, you should delay the procedure until you definitely have enough to afford it. I don’t believe in credit cards or going into debt just for minor things like that.

[oswaldcobblepot]

Great advice. Im trying to get myself out of debt, so another credit card, line of credit, and overdraft is not something I really want to do. Most dentists, auto mechanics, and home repair men can't usually give a quote until they do an inspection.

[petitedollbabee]

You can get a quote for the inspection. Where I live, a dental consult is usually $60, and then you can get a quote for the work that needs to be done.

[Nikki1989]

Hopefully you have a career that can cover all those costs. Ideally, you should be earning more than you ever spend.