How budgeting & saving will help you get closer to buying your dream tires
As written for The Safe Driver.
Saving up to purchase a car is one thing, but budgeting to buy tires is a completely different process. The tires on your vehicle are one of the most important aspects of transportation. Where would you be without them? That is why budgeting and saving to get the perfect tires is an integral way to ensure your vehicle has the best of the best. However, with the skyrocketing prices we experience today, it can be difficult to get your hands on the dream tires you desire.
While saving and budgeting can be hard, there are effective ways to do it that will get you closer to driving into the sunset with your new and improved wheels.
Here are some tips to help you during the budgeting and saving process:
Research
Know What You’re Paying For
Do some research on the type of tires you want and decide whether they are the right choice for your vehicle. Compare them to other brands or tire options and narrow down what makes the most sense. One set may seem like the perfect deal, but it’s important to consider any other up charge factors.
Those factors include:
- The total cost of the tires
- Sales tax
- Shipping costs
- Mounting and balancing
- New valve stems
- Resetting the tire pressure monitoring system
- Rebuilding the monitoring system sensors
- Disposal of your old tires
Brush up on knowing what you do or don’t need to pay for, such as a road hazard warranty if it already comes with a manufacturer’s warranty.
Check for Reviews & Recalls
You can check the reviews of the tires online that you want to purchase. You may find that this can sway your opinion on the set of tires you initially wanted and help you find something more affordable. You also want to ensure that the tires you want have positive reviews. The last thing you want is to buy the wrong tires and have them not work out for you. A good indication of whether the tires are reliable can go a long way in saving you money.
Reviews can also reveal whether or not the tires were recalled. You can also check the tire identification number to see recall notifications. It can prevent you from spending the money you saved up on tires that won’t be reliable. Knowing the integrity of the tire and its brand will assist you in making the right financial option.
Calculate How Much You’ll Need
Once you know what set of tires you want, you’ll have to see how much it’s going to cost you. Crunch some numbers to see how much is required to purchase them. Take into consideration when you’re going to need these tires and whether or not you’ll have enough saved within that time frame. Keep an eye on any potential sale opportunities that you can benefit from, such as Black Friday or Boxing Day. In the end, it will help to have a set amount calculated so that you have an appropriate end goal that you need to save up and budget for.
Save & Budget
Keep Your Eye on the Prize
While it may seem difficult to budget, you must always keep your eye on the prize. If you want those tires, you need to save up. According to Investopedia, a budget helps you figure out your long-term goals and work toward them. By setting a budget, you’re actively mapping out your goals and keeping track of your finances. This way, you’re consciously aware of what you’re saving up for. You might see a pair of shoes you like or a gaming console that you absolutely have to get, but you need to be aware of whether it fits your budget. Remind yourself of what your end goal is. When you remember you want the best tires possible, it will be easier to resist the urge to splurge on other items.
Cut Down Expenses
Any unnecessary expenses that you’re incurring can interfere with your budget goals. Take a look at your spending habits and cut out anything that you don’t really need. You may find that saving money will become easier when you keep an eye on your expenses and cut down on the number of things you’re buying.
Make Saving Mandatory
The best way to stick to your saving plan is to make it mandatory. If you know the exact amount you need for your new tires, you can set up a direct deposit straight from your pay cheque into a TFSA. What’s a TFSA? It’s a helpful way to ensure your money is being stored away for further use. This way, you will be able to save up the right amount necessary for your new tires.
Conclusion
Budgeting and saving are just part of the tire purchasing process. Whether you want to buy offroad tires or new winter tires, you deserve the perfect set. There are many excellent options to choose from when it comes to your vehicle. Always remember to do the proper research to ensure you drive off with the best product possible.