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Earth Day: How Recycling and Thrifting Can Help Improve Your Finances

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recycling and thrifting

Recycling (or upcycling) items and thrift shopping are two of my favorite ways to save money. A lot of the time, you wind up finding items just as good or better as what you would’ve found at your traditional retailers for half the price (or less). Earth Day has me thinking a bit about my own recycling and thrifting and how it’s save me money.

It’s Earth Day!

Today, April 22, is Earth Day. If you don’t already know the origins of Earth Day, April 22, 1970 was the beginning of the environmental movement. In the decades leading up to the first annual Earth Day in 1970, Americans were largely uninformed about the issues facing the Earth’s environment.

In 1969, the entire country witnessed a huge oil spoil in Santa Barbara. That prompted politicians and more people to back what was initially considered to be a “hippie movement.” The junior senator for the state of Wisconsin at the time was Senator Gaylord Nelson. He took students who were protesting wars and, well, anything they didn’t agree with and put their energy towards educating themselves about the environment.

The national potential for the program was recognized and there were 85 events put on across the country. Nearly 20 million Americans banded together to protest against the effects of global warming and other environmental factors. In 1970, it brought together Republicans, Democrats, and everyone in between. That’s something we hardly ever see anymore. While people from across the aisle aren’t banding together this Earth Day, there are still plenty of ways observing the holiday and what it teaches can benefit you in your everyday life.

Recycling and Thrifting

One of the ways being more conscious about my carbon footprint has benefited me financially is through recycling and thrifting. If something can be used again, I use it. Similarly, if I can get something secondhand and it works, I’ll take it. Here are some prime examples…

Jars at the grocery store can be easily recycled for different things around the house. Clean them out and use them to store small things like popcorn kernels, your own homemade tomato sauces, or seasonings. I have also reused old wine bottle to create bird feeders and terrariums instead of purchasing something expensive from the store. One of the big ones that has saved me quite a bit of money is cutting up old shirts to use as cleaning rags around the house.

That brings me to thrifting. You can decrease your impact on the environment by shopping secondhand or taking used items. Instead of these things going into a landfill, they are used for the entirety of the item’s life. I have thrifted most of my clothing for years. I’m doing the same with our daughter’s clothes. We have gotten bags and bags of clothing to last until she’s about 2 years old. Of course, we will have to purchase a few items, but not much. Once we are done using them, they’ll go to another family until they can’t be used anymore.

Obviously, these things have saved me some money over the years. When it comes to clothes for my little one, we’ve probably already saved hundreds by accepting hand-me-downs. Recycling items may not save me as much, but it greatly reduces how much I’m dumping out.

What about you? Do you try to recycle or thrift items? 

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The Easiest Ways Your Family Can Save On Vehicle Expenses

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There is no avoiding expenses when you own a vehicle. Not only do you need to purchase it to begin with, but you also need to keep it in good shape. You need to pay for maintenance, fuel, and other things. But there are ways to reduce these costs and make them more manageable. Here are some of the easiest ways your family can save on vehicle expenses.

Find a Trusted Mechanic

When it comes time to get repairs done on your car, you’ll need to hire a mechanic to do them for you. Unfortunately, some mechanics can overcharge you. If you want to save money on your repairs, you’ll need to find a reliable mechanic and stick with them. There are over 180,251 mechanics in the United States, so there are many to choose from. Take your time finding one. Look at reviews online or in-person from previous clients as well as their pricing. If you hire them and don’t like the experience, try someone else. If you can eventually find a good mechanic, sticking with them can help you save money in the future.

Get Good Insurance

Car insurance can mean the difference between paying huge amounts of money and paying nothing after an accident. It can cost you between $200 and $300 to replace your windshield without insurance, so make sure you get the best possible insurance for your family. Review it regularly and make sure that you let your company know about any changes to your situation that might improve your rates. Finally, don’t feel bad about shopping around for other policies. Sometimes you can get the same coverage for less money somewhere else.

Keep Track of Gas Prices

Gas prices can vary between different stations. If you keep track of what the prices look like in your community, you can save money by going to cheaper gas stations. Use apps that keep track of gas prices or write them down as you’re out in the community. Then you can keep an eye on different patterns and know what your best options will be when it’s time to buy gas.

As long as the distance that you travel doesn’t cancel out the savings, your family can spend less money on gas this way. However, don’t go overboard. If it will cost you too much gas to drive to a cheaper station out of your way, then it is not worth trying to save money that way.

Know When to Let Go

Eventually, you’ll need to say goodbye to the family car. When you reach a point where it is more expensive to repair it than it is to buy a new car, it will save you money to buy the new car. Be careful with your shopping and make sure that you’re buying something your family can afford.

You should look out for lemons. An estimated 150,000 cars made each year have repeated, unfixable problems and are called lemons. If you find yourself making the same repairs over and over, you should consider buying a new car. Even if it’s new and you want to try to keep your investment, a lemon will cost you a lot of money over the years.

Your family car will always cost you some money, but there are ways to make it less expensive. With a few easy plans and some careful research, you can save money on all different aspects of car purchasing and maintenance. Look to these tips to get you started. By making some easy changes, you can save a lot of money and make owning a car a more affordable investment for your family.

How We Financially Prepare for the Holiday Season

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prepare for the holiday season

The holidays are swiftly approaching. It’s hard to believe we will be celebrating our first Thanksgiving with our little one next week! For many people, this is a stressful time of year. Most of us have more social engagements than usual. On top of that, we are spending more money than we normally do, possibly traveling, and probably not eating the best. Many people find themselves biting their nails over the cost of presents and celebrations. Here is how our family tries to prepare for the holiday season.

Confession: I’m Buddy the Elf

If you’ve seen the Will Ferrell movie Elf, you know Buddy. I am him, he is me. Christmas time is one of my favorite times of year (I’m also a huge fan of Halloween). I simply love the season of giving, family time, baking, colder weather, traditions. It is important to me to be able to spread my cheer each year. However, it is also extremely important we stay within our budget each year. Only a cotton-headed ninny muggins would go into debt buying presents, right?

While we certainly don’t plan to put any gifts on credit this year, many Americans do. In fact, more than 21% of Americans say they will go into debt buying Christmas gifts. About 29% of shoppers say they’ll go into debt but they pay it all off in full with their tax returns. In general, people are willing to go about $1,400 in debt just to celebrate the holidays. For our family, wracking up debt on gifts just simply isn’t in the cards and it shouldn’t ever be, honestly.

Establishing New Traditions

Because Christmas is such an important time of year for me, we want to establish family traditions. One thing we are going to try to do is work in a lot of low-cost or free activities into our holiday traditions. For instance, there is a giant village about an hour from our home that has an amazing Christmas lights display. We will likely pack some food, hot chocolate, and get in the car to see the lights each year. This is little cost to us and a great tradition.

We will also be doing low-cost crafts.  This is something I always did with my godchildren before. Each year, we plan a night where all our parent friends can get together with their kids and do some type of holiday craft. I also usually bake cookies for them to decorate. The entire event typically costs less than $50 and is so much fun. It is also a great tradition to keep (kind of like a Friendsgiving of sorts). We’ve also been considering doing things like volunteering and family secret Santa when our little one is a little older too.

Another thing I’ve seen online this year is people hitting the dollar store for their decor. This is great way to switch up themes and color schemes from year to year at a low cost. I’ve seen some folks on TikTok decorate their tree for less than $35. That’s pretty amazing! So, in essence, we are looking to keep costs as low as possible by establishing some low-cost traditions and focus on the reason for the season.

How Do You Prepare for the Holiday Season?

As always, personal finance is personal. If you are someone who takes out a loan every year and it works for you, keep doing what works for you. If you’re like me and start the countdown for Christmas on December 26, saving and planning throughout the year, that’s okay too. You are doing what works best for you and your family.

At the end of the day, it really isn’t about the amount of money you spend. Focus on spending quality time with your family this season. Those are the memories they’ll keep forever anyway. Happy Holidays!

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Here’s Why It is Hard to Save Money

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hard to save money

Our family has always struggled a bit with saving money. It seems every time we get an emergency fund established or a little money stowed away, Murphy’s Law kicks in and we have to spend that cash to stay afloat. However, we aren’t the only ones that struggle with this. In fact, most people find it hard to save money. Here’s why…

Is It Really Hard to Save Money?

You may be thinking to yourself, “That sounds like an excuse to just not save.” It’s really not. Saving is hard, especially when you are spreading your focus across multiple financial goals. For us, we are focused on becoming debt-free, saving money for a home, and stacking up our savings. Sometimes, saving takes a backseat.

Not to mention, every time something comes up, we may have to dip into savings to take care of the cost. Of course, this is better than swiping our credit card or taking out a loan, but it makes reaching that three to six-month emergency fund difficult to reach.

All that being said, we aren’t alone. Much of America has a difficult time even saving enough money to cover a $1,000 emergency. That’s pretty nerve-wracking. Many people don’t even save 5% of their take-home income and 20% of Americans don’t save any portion of their income at all. But why?

Why?

In truth, most Americans aren’t saving any money at all because of their own choices. They aren’t willing to scale back or dial down their lifestyle. That isn’t always the case though. There are several factors that contribute to the difficulty of saving money.

  • Rising cost of housing, childcare, education, and healthcare: This is completely out of your control, but everything is going up. With the rising cost of necessities, it is hard to save money.
  • Debt: One of our loan payments is $488 per month. Think about if that was going into savings! Debt is a huge killer when it comes to being able to save.
  • Not making enough money: Your wages simply may not be high enough to stash anything away and cover your basic needs.
  • Lack of organization: Many people don’t track their spending, which can help you identify areas where you might be able to save.
  • Social activities take priority: This is especially hard for younger individuals. Oftentimes, social engagements take a higher priority than your finances (and they shouldn’t). Plan for outings and don’t overdo it.
  • Financial ignorance: Most of what you need to know about finance wasn’t taught in school and parents often fail to teach their kids about managing their finances too.
  • No desire to learn: While you may not have learned young, you can learn how to better manage your money now. You have to want to do it though.
  • Lifestyle inflation: When you get a raise, start saving more money instead of inflating your lifestyle costs.

The best piece of advice I can give you if you are struggling with saving like we often do is to stop comparing yourself to others. This is at the heart of why it is so hard to save money for many people. Unfortunately, when we compare ourselves to others, we wind up overspending and possibly even hindering financial progress altogether. All of this just to keep up with the Joneses. Don’t do it!

Readers, what part of your personal finances do you struggle with most? Why?

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Paying Off Debt vs Saving: Which Is Better?

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paying off debt vs saving

A few weeks ago we talked about how you don’t necessarily have to give up investing to further your debt freedom progress. Another hot debate in the finance community is paying off debt vs saving. Should you be stacking up savings if you haven’t paid off all your debt? Dave Ramsey would say no. Get your $1,000 emergency fund in place and focus on your debt payoff efforts. But which is really better?

Paying Off Debt vs Saving

First, let’s talk about why this is such a hot debate. If you’re an avid Dave Ramsey follower, you know paying off debt to be the number one priority as far as your finances go. This is because once all of your debts have been paid, you will have more money freed up to put towards savings, retirement, and investments.

However, this simply doesn’t work for everyone. I don’t know about you, but $1,000 isn’t enough to cover a huge emergency in my life. With a new addition on the way, I’ve been feeling the push to save more than ever. Of course, part of that is definitely getting some things paid off to have more cash flow in general, but actually saving plays a role too.

So, which is truly better? There is honestly a case for both.

The Case for Saving

When it comes to deciding whether you should be saving or paying off debt, there is a good case for saving money. The more cash you have to fall back on in the event of an emergency or major life change, the less likely you will be to rack up more debt. For example, if you have a few month’s expenses set aside, you are less likely to lean on your credit card in hard times.

Similarly, if you are expecting a big change like we are, saving more money may seem appealing. Again, you will have more money stashed away for when things change for you. In our case, having a baby is a huge change, especially from a financial standpoint. When you are facing something like that, stashing away some extra savings is never a bad idea.

The Case for Paying Off Debt

While you are saving, you could certainly be paying off debt with that money. Many people in the debt-free community would argue that savings could be saving you money on interest, etc. That is absolutely true, but it provides less peace of mind and immediate cash on hand in the event you run into a financial emergency. That being said, there is a case for paying off debt instead.

When you focus on paying off debt vs saving you will be able to free up more money on a month-to-month basis. For example, if you are focused on paying off your car, paying that off can free up some serious cash monthly. In our case, paying off our car would mean an extra $488 per month. That would make a huge difference. Arguably, once you pay off these bigger bills, you can start saving more quickly. You can also free up more money to put towards other debts, making even more money available month-to-month.

Bottom Line: Do What’s Best for Your Family

Whether you are on team savings or debt payoff, you should always make whatever decision is best for your family. There is no one-size-fits-all for finance. Personal finance is just that: personal. If having more savings in the bank decreases your anxiety when it comes to your financial situation, stash away some extra money. At the same time, if making progress on your debt freedom goals provides you with more peace, focus on that.

Readers, what side of the fence are you on when it comes to paying off debt vs saving?

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How to Create an Aggressive Savings Plan

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aggressive savings plan

Our family is attempting to save more money in the coming months with some big changes on the horizon. When we started trying to plan for this, we started throwing around some pretty big numbers. However, I know from previous experience these lofty numbers are difficult to reach and focus on. So, how do you create an aggressive savings plan?

How to Create an Aggressive Savings Plan

First and foremost, before you start planning out the perfect savings plan for you and your family, you should research some of the best high-yield savings accounts. These will give you more bang for your buck in terms of interest rates. Once you find a savings account that you want to use, then you can begin crafting the ultimate savings plan.

Set a Specific Savings Goal

You need to have a specific number in mind when you are setting a savings goal. Decide why, or what, you are saving for and focus on that. For example, you want to save $10,000 by the end of the year in preparation for a new baby. This gives a why, an amount, and a period of time in which to meet the goal. Your savings goal may be smaller. For instance, you may need to save $1,000 for an emergency fund by the end of next month. Whatever the goal is, it needs to be specific.

Really Examine Your Finances

When I say really examine your finances, I mean with a fine-tooth comb. You need to know how much money is coming in, what’s going out, and be able to identify unnecessary expenses. When we took a closer look at what we were spending we realized we overspent on our grocery budget every single month. Why? We eat out too much. It is pretty simple, but when you see the numbers behind it (in our cases hundreds of dollars), it can inspire change. That money really starts adding up once you start stacking it in your savings account.

Stop Spending and Find Ways to Grow

When you examine your finances, you’ll likely find things you didn’t know you were wasting money on. Determine where your costs can be decreased and trim those expenses. For instance, if you are trying to save $10,000 by the end of the year, skipping your bi-weekly manicure will probably help you get there. In addition to finding areas in your budget to trim, you should also find new ways to bring in money as well. Look for a side hustle or part-time job to amp up your savings even more.

While saving money may be a top priority for you right now, that doesn’t mean you should cut all of the fun out of your budget. In fact, cutting everything out of your budget is a bad idea and can lead to abandoning your savings plan altogether. Instead, incorporate rewards for meeting goals and milestones into your budget. You should also keep one or two fun things in there as well.

What Makes a Savings Plan Aggressive?

Now, you may be thinking this doesn’t sound very different from any other savings plan, but what makes your plan aggressive is the amount of time and effort you are willing to put in. You may want to save $10,000 in the fastest amount of time possible. To do this, you may decrease your spending, pay down debts and reallocate the funds to savings, and look for additional work to increase your income.

All in all, an aggressive savings plan is all about how aggressive you make it. Some individuals will move out of their home, rent a room, and slum it for a few months to completely overhaul their finances. Other people, myself included, want to find a more comfortable way to master saving.

Be Patient With Your Progress

No matter where you are in your financial journey, patience is key. I have learned throughout my own debt freedom journey and my relationship with finance that when you run out of patience, you also run out of the drive to make your goals happen.

One thing you should always strive to do throughout your own personal journey is learning from your mistakes. When something doesn’t go as planned or things fall through the cracks, really think about why it happened and what you can do to improve. You may not get it on the first, second, or even third try, but not giving up is the important part.

Readers, have you ever created an aggressive savings plan? How much did you save? How much time did it take?

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3 Ways to Hack the 52-Week Money Challenge

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hack the 52-week money challenge

Have you ever heard of a money challenge? It is something the internet thought up a few years ago that helps people meet savings goals (usually within a specific period of time). The original challenge, the 52-week money challenge, helps people save right around $1,400 over the span of a year. However, that method and timeframe don’t work for everyone. If that includes you, here’s how you can hack the 52-week money challenge…

About the 52-Week Money Challenge

First, before we talk about hacking the challenge, you should have a good understanding of what the 52-week money challenge actually is. It was created online to help motivate people to increase and track their savings. Along with it came message boards and forums for support with people doing the same thing. Pretty cool, right?

The challenge also introduced free printable tracking sheets where you can record your weekly savings. It also walks you through how much should be saved each week.

With this challenge, you save an additional $1 per week (i.e. $1 on week one, $2 on week two, $3 on week three, and so on). You can see how this adds up in the graphic below (via Saving Advice).

hack the 52-week money challenge

How to Hack the 52-Week Money Challenge

“Hacking” an internet challenge like this is fairly easy. All you need to do is figure out what needs to change for the challenge to better suit your financial needs. Here are three ways you can do it…

  1. Change the contribution amounts. For instance, if $1,400 over the span of the year is too little for your savings goals, increase the weekly amount you deposit into savings. If the amount is too much, you can also decrease your contributions. Similarly, you can also switch around your contributions. Many people do the 52-week money challenge in reverse to account for holiday spending at the end of the year.
  2. Switch up your goals. You can also hack the 52-week money challenge by changing its objective. For example, most people use the challenge to save money. Instead, you could use the challenge to pay off debt. So, instead of saving $1 the first week, you’d add $1 to your current debt payments.
  3. Hustle. Lastly, you can “hack” the challenge by creating money to save. Let’s say you’re living paycheck-to-paycheck and there’s absolutely no way you are saving $1,400 this year. To hack that problem, you just need to find a hustle or sell things to create the cash to save.

Other Challenges to Try

Throughout the article, I’ve been referring to the 52-week money challenge, but that is far from the only internet challenge out there to try. No matter what your goals are, financial or otherwise, there is probably a challenge out there for you. Take a look at these other money challenges you may want to try…

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10 Frugal Date Ideas for Valentine’s Day

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frugal date ideas

Part of being on a debt-free journey means finding ways to cut costs and spend less. With Valentine’s Day coming up, my hubby and I are brainstorming ways to celebrate. Here are a few frugal date ideas we’ve come up with.

Frugal Date Ideas for Every Couple

We both have trouble not spending money on each other. When we have extra cash, we love buying one another gifts and treating each other to something special. However, this can cause serious budgeting issues. Because of this, we’ve had to get a little creative to save money.

1. Make Pizzas at Home

Something my husband and I love to do is make pizza at home for date night. It only takes about 25 minutes and keeps you from spending too much eating out or ordering in. Plus, we have a great recipe that keeps costs low too.

For the dough: 

  • 1/2 cup of greek yogurt
  • 2/3 cup of self-rising flour

Mix these together to form pizza dough (it makes a single-serve pizza). Roll the dough out on a floured pan and bake at 400 for 10 minutes. Take the baked dough out of the oven, add sauce and your desired toppings. Put the pizza back in for an additional 15 minutes.

2. Pillow Fort Movie Night

Because we are kids at heart, we still enjoy a good pillow fort. The best thing about that is it literally costs nothing. We also have Amazon Prime and other subscriptions that don’t cost us anything extra. So, we can pitch our pillow fort, curl up and watch a new movie or binge a TV series. Super cheap and so much fun!

3. Play Games

Both my husband and I love to play cards. We also own several video games we can play together. Find a game you both enjoy, buy it (and some snacks) and just play around for the evening. If you’re competitive with each other, like we are, you can even hold small tournaments. It can be great fun.

4. Go Hiking

I love going for a good hike or a nice walk. Grab your significant other and head outside. Walk around your neighborhood, drive to the park, or find a nearby trail to hike. It is a great way to spend time together and chat.

5. Get Ice Cream

Ice cream is personally a favorite treat of mine. If you live close to a creamery, set out on a walk for some ice cream. You can also hop in the car and grab a sundae to split. Either way, ice cream is a delicious and frugal date.

6. Find a View and Enjoy it Together

This is one of my favorite frugal date ideas and something we do on a regular basis. Normally, we grab food at a drive-thru (usually super cheap) and drive somewhere with a great view. We eat together in the car, listen to a podcast or show, talk, and enjoy our surroundings.

7. Head to the Dog Park

frugal date ideas

You all know we have a pup who loves going on walks and being social with other dogs. If you’re a dog lover too, consider heading to the dog park for a date. You and your partner can enjoy the company of all the dogs, get your pet some exercise, and meet other people. It is a fun date that you can do completely for free.

8. Have a Nerf Gun War

Nerf guns are fairly cheap and something you can keep around. Grab a pair of guns (and ammo) and stage a war in your home or outside. This is unbelievably fun and relatively cheap as far as dates go.

9. Scope Out Free Things in Your Area

Chances are, there is something free going on nearby. Look for festivals, fairs, museums, and free events to visit. You and your partner will be able to walk around the event, have fun, and spend little-to-no money.

10. Treat Each Other to Massages

Massage oil can be purchased fairly cheaply. All you need is that and a couple of candles to set the mood. Treating one another to massages can be romantic and give you a chance to talk to your spouse or significant other about their day.

Readers, do you have any fun frugal date ideas you enjoy on a regular basis? Share them with me in the comments. 

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How To Minimize Costs Following A Car Accident

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Obligatory photo of a car.

A car accident can be a traumatic and costly event. Depending on the severity of the crash, it can cause severe harm and/or death. While accidents are unexpected and happen within seconds, the future impact on someone’s life can be a serious emotional and financial strain. No matter how draining an accident can be, it is important that you are proactive to avoid present and future costs.

Seek Hospital Attention

A common mistake that people make is not seeking medical attention following an accident to try to save time or money. The shock and adrenaline running through your body immediately after a car accident can cause you not to realize how badly you have been injured. Injuries can then appear at a later time in the future. These medical costs can be pricey if you have to pay out of your own pocket. Seeing a doctor is well-advised because you will be able to be checked on to determine whether you have been seriously wounded. Additionally, your injuries will be documented, so you will have proof of that injury if you choose to pursue a lawsuit.

Receive Legal Assistance

Legal assistance is always recommended following a car accident. Most attorneys today offer free initial consultations, so you’ll have nothing to lose for simply reaching out to a lawyer to explain what happened. A personal Injury attorney will be able to review exactly what happened and give you their professional opinion on the merits of a potential lawsuit that could compensate you for your incurred expenses.

Which Lawyer Should You Hire?

In the future, a car accident on your driving record will likely raise your insurance premium even if it’s months after a small “fender bender.” If you feel that it was not your fault, you should not have to endure increased costs or the repercussions that follow. Financial repercussions following a car accident can be extremely high, but they can sometimes be alleviated when you get help from a legal professional like a workers compensation lawyer Richmond to advocate for you.  If you are in New England consider Schafer Law – Boston MA, they have excellent service and return your calls promptly.  If you are in New York State, we recommend Obrien and Ford.  Obrien and Ford is a Buffalo car accident law firm which specialized in accident litigation.

Avoid Social Media

Most people have social media today such as Facebook and Twitter to connect with friends and family. It is easy to share news (good and bad) over these platforms. However, you need to always keep in mind that anything you post on the internet can (and likely will) be viewed by third parties, such as insurance companies that would otherwise compensate you. When you talk about private matters publicly, you risk having your words twisted around, misconstrued, and used against your insurance claim. Although posting on social media has become second nature to many people in 2019, it is smarter to refrain from sharing when it comes to updates that involve legal matters.

Have Good Insurance

Although there are many different auto insurances out there, not all are created the same. You may think you are receiving a good low-cost deal, only to realize that you got what you paid for. On the other hand, you may be paying too much but missing adequate coverage. People usually find out that their insurance isn’t up to par at the worst possible times (unfortunately, when they need their insurance the most -after a car accident). Make sure you review exactly what you’re paying for, what your state’s standards are, and keep in mind that the cheapest insurance isn’t always the best kind.

The Great Debate: Dip Into the Emergency Fund or Take on New Debt?

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Take on new debt

In a “debt freedom” community, it is hard to ever feel good about taking on new debt. I cringe at the idea of adding anything onto our current payments, but an emergency has happened. Now we are finding ourselves wondering, should we bottom out our emergency fund or take on new debt?

Cons of Dipping Into the EF

We recently moved to Atlanta from Charlotte, which costed a bit more than we anticipated. Because we are far from our family and friends, our main goal was to pad our emergency fund and leave it there. If anything happens, we can no longer call someone to come help. We have to rely on ourselves 100 percent.

That being said, after a visit with the dentist, I need all four of my wisdom teeth out. The bottom two are threatening my ability to breathe and the top two are causing my sinuses to swell (it is becoming an emergency). I got antibiotics, which helped the swelling but I need to have oral surgery.

We don’t have health insurance yet from my husband’s new job, and we don’t know if purchasing it will be worth the money honestly. So, for this, I have to pay out of pocket. After doing some research, I realized this will likely cost between $800 and $1,000 (our entire emergency fund).

While I don’t really want to take on new debt, dipping into our emergency fund would make us both pretty uneasy. We’d have nothing to fall back on.

To Take on New Debt or Not…

After chatting with the oral surgeon, I inquired about a possible payment plan. They don’t do anything in-house but I could apply for a Care Credit Card. The words “credit card” send chills up my spine, but if it made it possible for us to have peace of mind, I think it would be worth it.

Now, I have to be approved for the credit (which is up in the air), but if it is paid in full within six months, I’ll pay zero interest. Paying $800-$1,000 in six months will be no issue for us, but adding another thing to pay each month is causing some anxiety.

When it comes down to it, if I’m approved, we will go the payment route, even though it means taking on new debt. Sometimes peace of mind and your health come before your financial goals. We’ll come to terms with that.

Have you had to take on new debt for an emergency? 

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