Splitting things up like that really does make a difference. I see a lot of first-time buyers underestimate just how often “unexpected” expenses pop up—like, who knew a water heater could just quit on a Tuesday? I’m a fan of automating transfers into those buckets too, so you don’t even have to think about it. Keeps you from playing mental gymnastics every time something breaks. That said, sometimes I do wonder if three buckets is overkill for smaller places... but then again, it’s always the little stuff that sneaks up on you.
That said, sometimes I do wonder if three buckets is overkill for smaller places...
I used to think the same thing until my dryer and bathroom fan died in the same month. Didn’t matter that my place is tiny—repairs still add up. Do you actually track separate buckets for stuff like appliances vs. general repairs, or just one big “oh crap” fund?
Didn’t matter that my place is tiny—repairs still add up.
I hear you—my place isn’t huge either, but stuff still breaks, and it’s never at a convenient time. I used to just lump everything into one “oh crap” fund too, until the year my water heater and fridge both went out within weeks. That’s when I started splitting it up—one bucket for appliances, another for random repairs. It felt a bit overkill at first, but it actually made things less stressful when something did go wrong. Just knowing there’s money set aside specifically for the big-ticket stuff is a weird kind of peace of mind. But honestly, whatever works for your brain and budget.
I totally get the separate buckets thing. I tried just having a single emergency fund, but when my roof needed patching right after I refinanced, it wiped out most of it. Now I keep a little extra for the big stuff, just in case. It’s not overkill if it helps you sleep at night...
Totally hear you. I had this idea that one big “rainy day” fund would cover everything, but then my water heater died the same month my car needed new brakes. That wiped me out, and I was scrambling to rebuild. Now I keep separate stashes for house stuff and car stuff. It’s a little more work, but honestly, it keeps the panic at bay when something big hits. Funny how homeownership is just a series of expensive surprises...
