I'm not a big fan of extended warranties or service plans. Every device offers them, but you only need the warranty for the one or two items that have a problem. In this, as in many things, unless you can tell the future you never know which is the item you will need it for. Or you buy the right extended warranty, but the item has the problem after the extended warranty period has expired or the problem part is one that the warranty doesn't cover.
If you have the resources, and if you have been buying the extended warranties or service protection plans you do have the resources, take control of your warranty money. Open a special savings account that you deposit the cost of any extended warranty every time you buy an item that offers one. This way you are putting the money aside, but you are able to use it for whatever item you need replaced, when you need it.
If money is tight and you haven't been buying extended warranties, could you afford to start a separate savings account for a portion of the warranty money? Sometimes it is useful to have many small savings accounts with different purposes. It doesn't mean you won't ever have to reach into one for other than its intended purpose, but it does help you get to an intentional mindset of saving for different purposes.
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