So one of my favorite things about getting to do this job is getting to talk with you all in real

time about your money goals. So today I'm going to be answering some of your burning money

questions. Now make sure to like, subscribe, and share this episode with a friend. So I went on my

Instagram and I just said,

hey, ask me anything, especially when it comes to money, knowing what you guys want to hear.

And y'all always respond so well, which I so appreciate. Thank you. But we categorized these out

because there were so many responses, obviously we can't get to all of them.

But we grabbed a couple of themes that we saw, if you will, and took a question from one of those themes.

And we put it in the old fishbowl.

That's my favorite thing ever.

I love a fishbowl.

So let's see what it says.

All right.

How much should I be saving for vehicle repairs slash replacement each

month? So always around cars. We get some really good questions. So what I would do is average

out, number one for gas. That's where a lot of our money goes. So you kind of figure out,

okay, how much do we spend on average on gas? Now, depending on your car, depending on your car's history, how old it is, how many miles will probably depend on how much you want to put in a sinking fund. And a car is a great place to have a sinking fund. So you can use a replacement for this. Now, if you know we're probably going to need a car in the next 12 months, then that means, okay, if we're going to try to save $12,000, we need to put $1,000 away every single month towards that. Or if you feel like, yeah, we're going to have to have some repairs, usually ongoing, something's going to come up, maybe a hundred bucks, a couple hundred bucks each month to those repairs. But the sinking fund is great because

it's not that you have an actual date in mind always, but you're just putting money aside. Now,

if you have every dollar, there is a place in every dollar to do sinking funds. There's also an

area called goals. So goals would be more for a car replacement fund if you have an actual date

of when you need to replace a car.

You can use that goal setting.

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