5 Items You Have to Be Prepared to Replace

Everything we own has its own lifespan, but we tend to forget that these things we own should be replaced someday, especially some big ticket items. The appliances, furniture, as well as vehicles we own should be replaced, even if we would not like to do that. And their lifespan is not infinite but finite. If we pretend to forget this, someday we have to face very stressful financial emergencies. If we are not prepared, finally we may not have enough money to buy a new one to replace the old one which cannot work anymore. If this happens, you will not have a suitable refrigerator, vehicle, water heater, couch, or other things to use.

Therefore, knowing the average lifespan of large items we own can help us plan ahead for when we need to replace them. And we can make a plan to save up for these big ticket items.

1. Car and car tires

Car itself

Actually, you cannot drive your car forever. Soon or later, the wheels will finally fall off if you don’t repair your car. Another situation is that you need to repair it or finally replace it when your current vehicle shows signs of age. Generally, the average lifespan of a car can be 10 to 12 years. After that, you need to buy a new one which may cost you about $20,000. If there is an accident or some major problems happening during the 10 to 12 years, you may need to replace it for less than 10 years.

If you choose a car payment, you need to double the payment: one for the car payment and the other one for yourself. After the car loan is satisfied, you can have enough money for the next car. When you have to replace a new one, you will not be worried or stressful.

On the other hand, if you don’t have a car payment but own your car outright, it will be much easier to save up for a new one. You can easily save up about $20,000 in 10 to 12 years.

Car tires

Your car can last 10-12 years but your tires cannot. And you need to replace them on a regular basis. It is recommended to replace the tires every 5 years, which means you need to replace them twice before your car cannot work. However, if you drive heavily, the tires will be worn out very soon, and you may need to replace them every 2 or 3 years. There is an article that can tell you when you need to replace your tires.

Generally, a new set of tires will cost you $500 to $700 on average. You need to save up between $8.4 to $ 11.7 per month, if the tires should be replaced every 5 years.

2. Mattress

You may hear the myth that every 8 years your mattress doubles in weight because of the accumulation of sweat, dead skin and dust mites. However, this is not true. Some manufacturers take advantage of this myth to sell mattress. Even if it is touted, the mattress should be replaced on a regular basis.

Generally, you need to replace your mattress every 8 to 10 years. Well, how to know when you need to do that? Actually, this depends on the quality of your sleep. If you always feel pool rested or wake up sore or feel uncomfortable, it is time to replace a new one.

You may need to pay about $800 to get a new mattress, which means you need to save up about $8.35 per month for 10 years. If you are looking for the best mattress, you can see this post: Top 5 Best Air Mattresses Reviews

3. Couch

Couches are also very common furniture in our house. If a couch has lost its structural integrity, such a fraying couch will give us a bad experience of being swallowed. This means it is time to replace a new couch. Well, how long can a sofa can last until it becomes a black hole? The answer is between 7 and 15 years. A common sofa will cost us more than $1,000. Of course, you can cost more money to get a longer lifespan.

Therefore, for a common sofa that is your comfy spot to watch TV, you need to save up about $12 per month. After 7 years, you have enough money to purchase a new one.

4. Kitchen appliances

We have a lot of different kitchen appliances and they have different lifespan. We have listed the lifespan of some typical kitchen appliances:

Types Average Lifespan Replacement Cost Monthly Savings
Gas Ranges 15 Years $1,500 to $2,000 $11
Refrigerators 13 Years $600 to $1,200 $3.85 to $7.69
Dishwashers 9 Years $250 to $1,000 $2.32 to $9.25
Microwaves 9 Years $80 to $300 $0.75 to $2.80

5. Basement appliances

We have meny basement appliances, such as dryers, washers, water heaters, furnaces, as well as central air conditoners. Some of them cost very much. We need to save up some moeny per month, so that we can have enough money to replace them.

Types Average Lifespan Replacement Cost Monthly Savings
Dryers 10 Years  $200 to $800  $1.67 to $6.67
Washers 10 Years  $275 to $1,000  $2.29 to $8.35
Water heaters 8 to 12 Years  $800 to $1,500  $5.55 and $10.41
Furnaces 15 Years  $2,250 to $3,800   $9.38 to $21.11
Central Air Conditioners 10 Years  $5,400  $30 to $45

The Bottom Line

When we decide to buy a new big ticket item, we need to know its lifespan. And after we have had it, we need to begin to think about replacing them. We need to save up some money, so we can freely replace them when it is time to replace them.

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