“Laundering money”: an excerpt from my financial diary

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Happy family mother housewife and child son in laundry with washing machine

Image source: Getty Images

It’s glorious sunshine outside, but clouds have descended over my home as I’ve had to dip into my rainy day fund…

There I was, happily commissioning TMF UK Personal Finance articles from the comfort of my desk until the strains of my washing machine reached me from downstairs. It’s usually loud – but not that loud.

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No surprises for guessing it had packed in (likely the motor). Leaving me with two choices: a repair or a replacement.

Now, it’s worth mentioning that the machine was thrown in for free when we bought this flat in late 2018, as the sellers didn’t want the hassle of carting it between their two homes. So I know that it’s at least two and a half years old – and likely a fair bit older.

The quote I got for a repair – from various sources, of course, to compare the field – was about £175, including the replacement motor and callout fee of £60+…

Not committing to anything yet (never without the proper research!) I started scouting around to see how much a brand-new washing machine would cost. Complete with delivery, installation, and recycling/removal of the old unit, I was quoted £285.

Okay, so £110 does seem like a pretty big gulf between the two prices. But who knows when the next thing might go wrong with the old machine – especially without knowing its history! 

If just two incidents happen in the next two years and I need to call someone out again, then that’s £120 in callout charges alone, replacement parts notwithstanding…

I’d rather take the hit on this occasion and order a new machine, with the comfort of knowing how old it is, where it was bought from – and that the next two years are covered by a guarantee!

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