Yet another reason to practice sound personal finance, and to save an emergency fund:

When I went out to start my car this morning, the ignition switch would not move. It was frozen. No amount of pounding, jiggling, or fussing could get it to work. I called a locksmith. “Yeah, this is a common problem with the Ford Focus,” he said when he arrived. “I must fix ten of these a week.” He spent twenty minutes replacing the ignition switch, gave me instructions, charged me $250, and went on his merry way.

$250!?! Now, that’s a racket.

My car woes cost me $250 plus $50 for a lost on-time bonus (which employees at my company earn by being on time every day for a pay period). If this were the old J.D., living paycheck-to-paycheck, this would have been devastating. Fortunately, the new J.D. is able to cope with these sorts of crises.

GRS is committed to helping our readers save and achieve their financial goals. Savings interest rates may be low, but that is all the more reason to shop for the best rate. Find the highest savings interest rates and CD rates from Synchrony Bank, Ally Bank, GE Capital Bank, and more.