Budgeting our monthly expenses is something we can all relate to. Although budgets can sometimes feel financially restrictive, especially if you have a family to take care of, being on top of your finances and having your spending sorted out can be a very liberating feeling. Many of us may list our spending habits to keep track of all our outgoings. It may go something like this:
Weekly shopping bill. Check.
Phone bill. Check.
Gas and electric bill. Check.
You may have the odd dentist trip to factor in here, a rare birthday to squeeze in there.
Then, justifying expenses like haircuts (do the kids really need a trim this month?) and a new boiler replacement. After that, you’re barely left with any disposable income or money to put aside for a rainy day.
Then imagine you’re driving to work in your car, a week away from payday, and disaster strikes. The sudden blowout of your tyre, the dashboard flashing or the vehicle suddenly breaking down can send you spiralling into a world of financial and emotional turmoil. You may be doing the maths in your head, asking yourself, “How on earth am I going to afford this?” whilst juggling all your other expenses.
Take a deep breath and put the kettle on. The worst-case scenario has happened, and now it’s time to budget the costs of your car maintenance.
How to improve your budgeting
When you’re used to budgeting a certain amount of money each month, it can be challenging to cope with the rising living costs. British Gas announced a 12% increase to their standard energy prices in 2021, making it that much harder to stretch the budget further than it’s already being strung out.
Factoring in an unexpected expense such as a car repair can prove tricky when there’s not much left in the money pot, but there are some ways to help manage your expenses for your car. Whether it’s setting aside a bit of money each month, taking some luxury shopping items off the list, or sacrificing your £ 5-morning coffee, there are many ways in which you can improve your budgeting.
Tips for affording car maintenance
There are some other costs to bear in mind when it comes to car maintenance, such as repairs, maintenance, MOT, servicing, parts, and accessories. You could save yourself some money by keeping some essential items in your car, which can come in handy for when you break down unexpectedly on the side of the road or need a temporary fix before you can get to a garage.
- Keeping a spare tyre in the back of your car with a tyre jack can come in handy when you encounter a puncture.
- Duct tape can be used as a temporary fix to a smashed window or broken door handle until you can get to a mechanic for a more permanent repair.
- Have a refillable fuel container stored in your car for if you ever break down and need to walk to the nearest petrol station to refill.
Of course, a temporary fix won’t last forever, and the time will come to take your car to your local garage to get a repair, MOT, or servicing done. By spreading your repair costs over time, you can make budgeting easier and avoid the upfront costs of vehicle maintenance that are often out of your control. Buy Now Pay Later companies like Bumper work with trusted dealerships and garages all around the UK to help you budget the costs of your car repairs, services, MOTs, accessories, and parts in interest-free monthly instalments.
With Bumper, it’s possible to maintain your car on a tight budget, leaving you with more money to spend on other things.
How To Afford Car Maintenance on a Tight Budget is a feature post