Repair or replace: Some troubleshooting tips if expenses are an issue

Ranjan Sinha (name changed) has a tough call to make. Should he replace his 10-year old washing machine or repair it for the nth time. In the past few years, besides incurring regular servicing expenses, he has replaced the main dashboard three times – costing Rs 3,000 every time.

Now, it seems, the spinning part has to be replaced at the cost of Rs 7,000. Given the original cost of the machine was Rs 14,000, he has already spent the same amount to repair it. Four months back, the decision would have been to replace. But, after facing a severe salary cut, he is quite unsure …