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Why Should I Keep Dumping Money Into My Old Car Or Other Old Junk?

Rusty+Wrench

That older car of yours is starting to show signs of wear, and it seems month after month you’re fixing something or other.

When should you call it quits and upgrade to something newer?

If you’re frugal, you’re trying to get every last stinking mile out of your car possible.  If you’re like me with 4 kids, you think it makes no sense to get something newer that kids will destroy.  The body of my black 2000 Nissan Maxima (bought used with 50,000 miles in April of 2005) is in fairly good condition, the car looks decent, and I’ve taken care of it.  I’ve got 145,000 miles on the car and in the last couple of years I’ve had to replace several costly parts, including new tires for about $300, the alternator cost about $600, the new radiator last month cost another $500, and the exhaust system replacement cost another $300.  Not to mention, someone broke the lock last Thanksgiving breaking into my car (which cost $350 to fix).  Throw in other small items and the bill in just 2 years was over $2000.

Nearly every time a new bill came up I wondered to myself if it was time to buy something newer.

As an Accountant who has worked for various large manufacturers with multiple plants and millions in equipment, I’ll share how we evaluate purchasing or replacing capital equipment and other big purchases.  I’ll then help you better evaluate a potential large purchase or replacement purchase should your car breakdown, your roof starts leaking, your water heater starts giving you problems, or maybe your A/C is on the fritz and your unsure whether to pay for a service call or if you should go ahead and buy instead of taking a chance wasting money on a call.
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A Little Investigation And Elbow Grease Saved Us Over $150

Vacuum Cleaner Belts

My wife was vacuuming the house. She notices that the vacuum isn’t picking up as well as it should (this has happened before and we had discovered that the hose was backed up).  No big deal.  Then we smell a real nasty smell of rubber burning.  And the vacuum stopped picking up dirt.  Oh no.  “Great, we have to buy a new vacuum,” I say to my wife.  “What did this one cost us?  Around $150-$200?  Maybe we can get a good deal with it being the holidays and stores are trying to get rid of their inventory,” I say, trying to find the silver lining.  Just what we need though, another expense.
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Write For Free From Broke

Typewriter

Do you have your own blog and are looking for more exposure?  Maybe you don’t but you’re a good writer and you’re looking for a place to share your ideas?  Well, Free From Broke is looking for talented writers for guest articles.
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Saving At The Supermarket Is FUN!

Winn Dixie Receipt

My Money Blog posted an article a few months ago talking about the theory of “price targeting”, where companies try to sell the same product to different people at different prices, hoping to come as close to an individuals’ target price as possible.  In the use of price targeting, shoppers are generally broken down into three categories.
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Tax Tips For Parents

W4 Tax Withholding

Having children is a wonderful experience that is priceless in so many ways! But do they cost you a lot!  Fortunately there is some tax help for parents in the form of deductions and claims.  Robert Meighan, vice president at Turbo Tax, has listed some great tax tips for parents:
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6 Tips to Avoid IRS Penalties, Interest and Filing Fees This Tax Season

Tax Files

With Federal and various State tax revenues in decline, the IRS and State tax collectors are not letting any taxpayer fall through the cracks.

In fact, if anything the IRS’s computerized Automated Collection System (ACS) is probably better than ever with all the funding the IRS has received from the Federal stimulus.
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