Money Monday focus for today is basically about buying insurance on stuff so you don’t have to pay full price to replace it when it breaks.

My parents had a Sears Kenmore washer & dryer for over 20 years and every couple of years they would renew the extended warranty.  They thought it was a good investment.

Compare that to my experience.  My wife and I also have a Kenmore washer that is over 20 years old.  We didn’t buy it new.  We bought it for around $100 ten years ago from a used appliance store.  No warranty either.  Works fine.

What about electronics, like a flat screen tv?  Check out this compelling article from the Dumb Little Man website which outlines a similar argument I gave my wife a couple years ago when we were replacing our tvs.