[2BNTV]

Does anyone budget a monthly number for the following?
1. House repairs.
2. Car repairs, (not routine maintenance).
3. Cart insurance.
4. Cart repairs and routine maintenance).

I realize these items are done on a per need basis and they can vary greatly.

I am trying to decide whether to work part time as to pay for these items or take it out of resources.

Still a wannabee.

[memason]

I have tried to budget such items, but it is strictly a guess. I generally try to take a look at the worse case scenario and then adjust from there.

Maybe someone else has a realistic estimate for such expenses...

[rjm1cc]

Budgeting is hard to do but certanily a worthwhile exercise. I have no experience at TV. From my own home true repair expenses are few and far between. Could be a garbage disposal, wahser, or a new roof. If this is what you are budgeting then I would assume you have a fixed monthly income and would put a few dollars a side each month for these expenses. Very good idea. Let's say you budget $50 per month and hope not to have any repairs for 5 years. That would give you $3,000 and should be more than adaquate. Replacing appliances would be the main item. You might want to mention what you consider as home repairs. For example is repainting the inside and outside something you will want to do every 5 years, 10 years? etc.
My cars are older - 3 at 10 years. The repairs tend to be $1,500 to $2,000 every couple of years. Replacing parts that wear out. I would say budget $50.00 on the low side and probably $100.00 on the high side per month.
I think I have read that cart insurance is about 150.00 a year. Definetly I would take this out of current income and not your resources.
Seems like cart repairs are a little like a car. Just a guess every 5 years you might need $500+ for new batteries. If you have a gas cart I think I would say the car repair budget will cover it. It should be reducing your car expense.
What you are actualy doing is taking part of your monthly income and building an emergency fund. This is the way to go. I could see taking items such as repainting the house in 10 yeas out of resources but the other items should come out of income and be budgeted. At some point you should be able to cut back on the amount you put into the fund if you do not have a lot of need.

[zcaveman]

Originally Posted by 2BNTV

Does anyone budget a monthly number for the following?
1. House repairs.
2. Car repairs, (not routine maintenance).
3. Cart insurance.
4. Cart repairs and routine maintenance).

I realize these items are done on a per need basis and they can vary greatly.

I am trying to decide whether to work part time as to pay for these items or take it out of resources.

Still a wannabee.

1. New home - I would say close to zip. Older home - go for $200-300 annually. Until the wife wants to repaint and recarpet then think in the $3000-5000 range.

2. How old is the car? If you are talking just maintenance it is no more than what you pay now.

3. Cart Insurance. Mine is on my home owners insurance. I went down to check and see what it would cost for a separate police and it was about $125 a year.

4. Cart repairs - With my electric Club cart it was $48 every six months. With my electric EZGO it is $80 once a year.

[logdog]

My cart insurance is $60 per year. I was told it is better to have a separate policy in case you do have an accident, it won't raise your home insurance premiums. Also car maintenance is likely to be less than what you're paying now since you won't be using your car much for short trips. We set aside an extra $100 per month for contingencies (including home/car/cart repairs). If it doesn't get used at the end of the year, then it converts into a vacation fund.

[784caroline]

Cart insurance is approx $60 per year...go to VIllage Insurance and keep it off your car or homeowner insurance policy.

AS for Golf Cart expenses, if your electric, you better also budget $700 every 4 years for batteries and you most likely will need brakes during that period of time. I also had to replace tires in 2 years ($200)...you dont want to drive a golf cart on wet pavement with bad tires. You will fishtail worst than a car at the most moderate speed. !

[Pturner]

Originally Posted by logdog

My cart insurance is $60 per year. I was told it is better to have a separate policy in case you do have an accident, it won't raise your home insurance premiums. Also car maintenance is likely to be less than what you're paying now since you won't be using your car much for short trips. We set aside an extra $100 per month for contingencies (including home/car/cart repairs). If it doesn't get used at the end of the year, then it converts into a vacation fund.

ditto to all, except we budget $50/month for maintenance and repairs, let it accrue year-to-year and budget separately for vacation.