indebted2debt

I made my bed, and now I must lie in it!

Sometimes having a warrantee actually pays off!

Warrantee’s sometimes get a bad rap, but sometimes it sure as hell pays to have one!

Sunday night our washer kicked the bucket. It refused to work, made horrid noises, and because it’s a front loader the door was locked and wouldn’t open. I was beyond pissed, and prayed that the extended warrantee I had taken out on my washer and dryer was still in effect. Thankfully, it was! It’s good until January 2014, talk about down to the wire…lol!

I was able to get a repairman in to see it today, and sure enough, the pump was broken! All parts and labour covered! If we had to pay for that repair….well we couldn’t have! We have nothing saved because of the debt situation we’re in!

That got me to thinking. Dave Ramsey suggests that you save $1000 before you begin any extra debt repayments (but you continue to pay the minimums of course. #1, we hardly HAVE anything extra, and when we do it’s very little. Do you know how long it’ll take us to save that? I see the benefit obviously, if something unexpected happens, we’re covered! #2, I want my debt repayment to start NOW!

So what do I do? Do I take a few months to save an emergency fund, or do I throw caution to the wind, and start paying extra on my debt whenever I can?

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4 thoughts on “Sometimes having a warrantee actually pays off!

  1. Crazynoiia on said:

    SELL! SELL! SELL! I went to my closet and started selling everything I did not need … do I need 7 pairs of black pants? 4 pairs of brown pants? Nope sold all but one of each of them. 2 dinning room tables? Nope! sold 1. what about the gaming system you don’t play any more? sell it and the games ( I didn’t do this but its next on the list out the door) Dave says ‘Sell so much stuff the kids think they are next’ I also so extra dishes I had … Try consignment shops for you clothes (too cold for a yard-sale now) even dishes or kitchenware duplicates and unused items … I love the warranties! You got this! Dave also pushes the 2nd job … pizza delivery, paper route (I saw a sign my area yesterday going to call tomorrow) anything to get money in and get that $1000 …. again You got this!!!

  2. I am glad you had a warranty. I never pay for them but I guess in this case it worked out for you. I am in the process of selling my second dining room table. Where are you guys with the house sale?

  3. This is my ruling guide on warranties: if you cannot afford to lose it, insure it.

    Most things do not fall into that category. HOWEVER, I would add that expensive machines could fit under “insure it”. I think washers and dryers probably are a good idea to insure with warranty. Laptops, computers, tech gizmos… probably not.

  4. I am very anti-warranty except for what Steve said, if you cannot afford to lose it, insure it. Companies like Best Buy and Walmart make more money on financing items and on selling warranties than they do on the actual products they sell. That should tell you it’s a losing proposition for most people.

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