At some point, appliances die and are not worth repairing. When an appliance dies, it could cost quite a bit of money to replace and often we can't live without an appliance very long so waiting for a sale is not always an option. You may find yourself with an unexpected $1000 bill by the time you buy a new one, have it delivered and the old one removed. Do you plan for this? If you own your home and appliances, it is a good idea to have a separate fund for unexpected expenses but few people actually do this. You can slowly build up this fund over time so that you can actually pay for what you need without having to borrow the money which will cost more and possibly delay your ability to replace the item. While a general savings account can be used for this fund it is often better to separate the money so you aren't tempted to use it for other things.
Most times my appliances died all of a sudden with no prior signs. This, coupled with the tough times I'm going through, means I'm going with a whatever happens happens mentality and if something breaks I start saving money for a replacement from that point onward. Not really wise but it's the best I can do. But even when things are good for me I'm not making a separate fund for appliances, and instead, I'm always using my savings to buy stuff that needs replacing.
No I don't but I did recently start. I'm not sure if it is enough but I am putting away $50/month in the event I need to replace a large ticket item. I never did this before and my washer and dryer both broke at the same time--lucky me--and repair would be more expensive than replacement.
Unfortunately, I do not have a replacement fund. It's too bad because so much in my home NEEDS to be replaced now. I am just tossing stuff away gradually as I buy a newer more improved product that's similar.
I actually still live with my parents, so I don't really worry about replacing things in our home except for my own personal things like cellphone for example. When the time comes that I'll be living alone, then I will try to set aside a certain amount of money every month for that type of "emergency".