THINK before you EMAIL.... (and especially from work)
Got a little time on your hands than take a look at:
http://www.enronemail.com/
This company has developed a powerful software engine which allows “companies” (or governments) to search through your e-mail. The FREE on-line example is for YOU to search through the hundreds of thousands of email between 176 Enron Executive and employees in 2000-2002.
If you ever needed a reason not to send personal e-mails from work this is it.
While the content of these messages are not new. The FEG Commission released the to the public in 2003. But InBoxer Inc. new EnronEmail provides the tools to flag any email better than a keyword search.
While most companies do allow their employees the privilege of personal e-mail at work a full 26% of firms have fired employeeds for e-mail abuse.
Some other considerations to keep in mind:
It is NOT unlikely that someone in your firm scans e-mails or will be given directives to do so by "higher ups."
Your messages could later be called into public records if a lawsuit related to you is ever leveled. And if you think it can’t happen to you - one in five U.S. firms said courts or regulators had subpoenaed their e-mail records, and another 13% went to court to battle lawsuits triggered by employee e-mails, according to a 2004 survey by the ePolicy Institute and the American Management Association. (marketwatch.com)
The fact is once your e-mail is SENT you have no control over where it will end up. What gets place on a server is often "archived" or backed up in a number of locations.
The federal government has defended the right of the employeer to monitor all e-mail transmissions and ALL INTERNET ACTIVITY.
Think TWICE...Think ENRON
-------------------–
Friday, January 27, 2006
ON-LINE DISCOUNT:
As I prepared to make an on-line purchase I noted there was a field for a DISCOUNT CODE. I immediately did a search at Google for the company name and "discount code" - which returned codes for 5-10%. I entered the 10% code and it worked, saving me about $9 for a 10 minute search.
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As I prepared to make an on-line purchase I noted there was a field for a DISCOUNT CODE. I immediately did a search at Google for the company name and "discount code" - which returned codes for 5-10%. I entered the 10% code and it worked, saving me about $9 for a 10 minute search.
---------------------------
Thursday, January 26, 2006
ATTENTION TO DETAILS:
As much as people state that they have all the facts when making crucial decisions I would venture this is not the case in the majority of cases.
Today Oprah denounced James Frey for the factual holes in his memoir, "A Million Little Pieces."
Without recounting the entire incident lets just say that Frey’s book was an elaborate embellishment of partial truths with the self assessed stamp of a sincere biography. And while Oprah declared in Frey’s presence that she felt “duped” by promoting the book I find it difficult to believe that from his publisher to Oprah staff there was not more “due diligence” in researching the TRUTH.
As one commentator remarked on the show - ‘A thirty thousand dollar researcher could have dug deeper into the book and would have prevented this misrepresentation.’ But no one did.
Gathering the FACTS is a time-consuming and necessary step toward any project. Ignoring this fact only invites disaster.
-----------------
As much as people state that they have all the facts when making crucial decisions I would venture this is not the case in the majority of cases.
Today Oprah denounced James Frey for the factual holes in his memoir, "A Million Little Pieces."
Without recounting the entire incident lets just say that Frey’s book was an elaborate embellishment of partial truths with the self assessed stamp of a sincere biography. And while Oprah declared in Frey’s presence that she felt “duped” by promoting the book I find it difficult to believe that from his publisher to Oprah staff there was not more “due diligence” in researching the TRUTH.
As one commentator remarked on the show - ‘A thirty thousand dollar researcher could have dug deeper into the book and would have prevented this misrepresentation.’ But no one did.
Gathering the FACTS is a time-consuming and necessary step toward any project. Ignoring this fact only invites disaster.
-----------------
THE BEST TIME TO BUY.....
According to Money Magazine:
Airline Tickets: WEDNESDAY. “That's when airlines release their available seats for the upcoming weekend and the weekend after. Likewise it's still best to book a domestic flight at least two weeks in advance, and even further ahead for international travel. But if the two-week window isn't an option for you, she advised delaying the purchase even more, to a few days before you fly, as fares from 14 to 7 days ahead of departure tend to be the most expensive.”
Televisions: While the blowout sales on electronics tend to cluster around the holidays, even cheaper deals on TVs can be found in the spring beginning in April.
That's because for most Japanese companies the fiscal year ends in March.
Houses: Reduced demand and lackluster appearance can lead to a better deal in winter.Most homes go on the market in the spring, with sales closing in the summer.
The average home price during these months is higher as well.
Cars: It's still true that good deals can be found in late summer/early fall, when carmakers release new models and dealers want to get rid of last year's leftovers.
But a good price may also be wrangled at the end of every month. That's because dealers are under pressure to book sales. If they exceed monthly sales targets set by the manufacturer, they are rewarded by getting more of the hotter, better selling vehicles the next month. "There's a benefit to [dealers] making their quotas.”
“It is also recommended shopping when the dealerships aren't crowded, like early mornings, midweek or the winter, to avoid "getting short shrifted" from the sales staff.
--------–
According to Money Magazine:
Airline Tickets: WEDNESDAY. “That's when airlines release their available seats for the upcoming weekend and the weekend after. Likewise it's still best to book a domestic flight at least two weeks in advance, and even further ahead for international travel. But if the two-week window isn't an option for you, she advised delaying the purchase even more, to a few days before you fly, as fares from 14 to 7 days ahead of departure tend to be the most expensive.”
Televisions: While the blowout sales on electronics tend to cluster around the holidays, even cheaper deals on TVs can be found in the spring beginning in April.
That's because for most Japanese companies the fiscal year ends in March.
Houses: Reduced demand and lackluster appearance can lead to a better deal in winter.Most homes go on the market in the spring, with sales closing in the summer.
The average home price during these months is higher as well.
Cars: It's still true that good deals can be found in late summer/early fall, when carmakers release new models and dealers want to get rid of last year's leftovers.
But a good price may also be wrangled at the end of every month. That's because dealers are under pressure to book sales. If they exceed monthly sales targets set by the manufacturer, they are rewarded by getting more of the hotter, better selling vehicles the next month. "There's a benefit to [dealers] making their quotas.”
“It is also recommended shopping when the dealerships aren't crowded, like early mornings, midweek or the winter, to avoid "getting short shrifted" from the sales staff.
--------–
CHOOSING YOUR HOME - LOCATION, LOCATION, LOCATION:
This is the common phrase used in the business community to describe the importance of establishing your business location for optimum returns. Perhaps that was true 20 years ago but now having a high-speed DSL line and web site is more important.
Location also takes on another consideration when you choose your house. The more time you are on the "road" is less time from the quality of your life AND the greater mileage expenses. A recent study by the University of Wisconsin discovered that workers in that state spend over 386 hours a year just traveling to work and home (that amounts about 10 weeks a year in wasted time.)
If the current US mileage rate of .48 cents a mile is realistic (cost of auto, insurance, tires, maintenance, gas, oil, etc.) than a 40 mile trip to and from work is $19.20. If you lived 5 miles from work (10 miles) than the cost is only $4.80. Repeat this travel over 20+ years (without inflation) and you are talking about some serious money - 325 day per year X $19 = $6175 per year X 20 years = $123,500 vs 325 days per year x $4.80 = $1560 x 20 years = $31,200 or a difference of $92,300. Granted, inflation is not included in this casual calculation but it does show the importance of selecting a home near your place of employment. IF you had two people working in the family the numbers become even more significant. The interest on a home is deductable but travel costs are not.
---------------------
This is the common phrase used in the business community to describe the importance of establishing your business location for optimum returns. Perhaps that was true 20 years ago but now having a high-speed DSL line and web site is more important.
Location also takes on another consideration when you choose your house. The more time you are on the "road" is less time from the quality of your life AND the greater mileage expenses. A recent study by the University of Wisconsin discovered that workers in that state spend over 386 hours a year just traveling to work and home (that amounts about 10 weeks a year in wasted time.)
If the current US mileage rate of .48 cents a mile is realistic (cost of auto, insurance, tires, maintenance, gas, oil, etc.) than a 40 mile trip to and from work is $19.20. If you lived 5 miles from work (10 miles) than the cost is only $4.80. Repeat this travel over 20+ years (without inflation) and you are talking about some serious money - 325 day per year X $19 = $6175 per year X 20 years = $123,500 vs 325 days per year x $4.80 = $1560 x 20 years = $31,200 or a difference of $92,300. Granted, inflation is not included in this casual calculation but it does show the importance of selecting a home near your place of employment. IF you had two people working in the family the numbers become even more significant. The interest on a home is deductable but travel costs are not.
---------------------
Wednesday, January 25, 2006
MOM's BANANA CAKE:
I was reflecting the other day on childhood memories and Mom's Banana Cake came to mind. My mother always made this cake for me (every birthday) until I left home. Mom died after college and I never had another cake.
While rooting through some old cookbooks the other day I found her hand written recipes. So for anyone else who have childhood memories let me leave you mine :)
Big Banana Cake
Cream the following ingredients together:
2 & 1/4 cups of sugar
1 & 1/2 cups of butter (don’t melt)
3 eggs
Add:
6 tablespoons of sour milk
1 & 1/2 teaspoons soda
1 & 1/2 teaspoon vanalla
1 & 1/2 cups bananas
mix together and add
1 & 1/2 teaspoons of baking powder
1 & 1/2 cups of flour
Finally fold in:
1 & 1/2 cups of nuts
Regular Banana Cake
Cream the following ingredients together:
1 & 1/2 cups of sugar
3/2 cups of butter (don’t melt)
2 eggs
Add:
4 tablespoons of sour milk
1 teaspoon baking soda
1 teaspoon vanalla
1 cup bananas
mix together and add
1 teaspoon of baking powder
2 cups of flour
Finally fold in:
1 cup of nuts
-------------------------
I was reflecting the other day on childhood memories and Mom's Banana Cake came to mind. My mother always made this cake for me (every birthday) until I left home. Mom died after college and I never had another cake.
While rooting through some old cookbooks the other day I found her hand written recipes. So for anyone else who have childhood memories let me leave you mine :)
Big Banana Cake
Cream the following ingredients together:
2 & 1/4 cups of sugar
1 & 1/2 cups of butter (don’t melt)
3 eggs
Add:
6 tablespoons of sour milk
1 & 1/2 teaspoons soda
1 & 1/2 teaspoon vanalla
1 & 1/2 cups bananas
mix together and add
1 & 1/2 teaspoons of baking powder
1 & 1/2 cups of flour
Finally fold in:
1 & 1/2 cups of nuts
Regular Banana Cake
Cream the following ingredients together:
1 & 1/2 cups of sugar
3/2 cups of butter (don’t melt)
2 eggs
Add:
4 tablespoons of sour milk
1 teaspoon baking soda
1 teaspoon vanalla
1 cup bananas
mix together and add
1 teaspoon of baking powder
2 cups of flour
Finally fold in:
1 cup of nuts
-------------------------
DOING WHAT YOU LOVE:
Steven Jobs owns 50.4% of Pixar Corp. which sold yesterday for 7.4 BILLION dollars. Not bad for a days work and a man coming from a troubled home.
Recently Jobs was the Principal speaker at the 2005 Stanford graduation. He said that early experience helped focus his priorities.
"Sometimes, life hits you in the head with a brick," he told Stanford University graduates last June in a widely circulated commencement speech. "I'm convinced that the only thing that kept me going was that I loved what I did. You've got to find what you love."
Lesson Learned: Doing what you love has its rewards..... (For Steve there are billions...:)
---------------
Steven Jobs owns 50.4% of Pixar Corp. which sold yesterday for 7.4 BILLION dollars. Not bad for a days work and a man coming from a troubled home.
Recently Jobs was the Principal speaker at the 2005 Stanford graduation. He said that early experience helped focus his priorities.
"Sometimes, life hits you in the head with a brick," he told Stanford University graduates last June in a widely circulated commencement speech. "I'm convinced that the only thing that kept me going was that I loved what I did. You've got to find what you love."
Lesson Learned: Doing what you love has its rewards..... (For Steve there are billions...:)
---------------
A PIECE OF PAPER....
My nephew was allowed to quit school three years ago because "He was smarter than the teachers" and was going to school after all only for a "piece of paper." His quitting school reminded me of an event that occurred during my student teaching days (some 40 years ago.)
One of the students in my first class was suffering from a broken home and no income. He told me that he had to quit school and get a job. I told him that it was really important to stay in school for the "long haul" but he said he could not wait any longer.
I talked with school counselor and asked if he could help get the young man a job. The counselor went out of his way to find and arrange an interview with a CONTRACTOR who needed a "NONSKILLED" employee.
When the student went to the Contractors site he looked over the young man and said "I need to give you a test." He walked him over to a pile of dirt and a shovel and said "Dig me 5 holes 12" deep and 12" across." After which he walked back to his office.
The student worked at the task and upon completion reported to the Contractor. The Contractor walked over to the site and carefully measured each hole.
The student asked him "WHY?" he performed this task. The Contractor told him: "From my experience I have found that people who don't complete hard tasks (high school) don't generally care out the hard tasks I give them as well." "I gave you the test to give you the benefit of the doubt."
While my student passed the test he decided to go back to school and work for his "piece of paper."
I don't know if that was a LIFE LESSON for him - but it certainly was for me. And when he told me the story I cried.....
-----------------------------
My nephew was allowed to quit school three years ago because "He was smarter than the teachers" and was going to school after all only for a "piece of paper." His quitting school reminded me of an event that occurred during my student teaching days (some 40 years ago.)
One of the students in my first class was suffering from a broken home and no income. He told me that he had to quit school and get a job. I told him that it was really important to stay in school for the "long haul" but he said he could not wait any longer.
I talked with school counselor and asked if he could help get the young man a job. The counselor went out of his way to find and arrange an interview with a CONTRACTOR who needed a "NONSKILLED" employee.
When the student went to the Contractors site he looked over the young man and said "I need to give you a test." He walked him over to a pile of dirt and a shovel and said "Dig me 5 holes 12" deep and 12" across." After which he walked back to his office.
The student worked at the task and upon completion reported to the Contractor. The Contractor walked over to the site and carefully measured each hole.
The student asked him "WHY?" he performed this task. The Contractor told him: "From my experience I have found that people who don't complete hard tasks (high school) don't generally care out the hard tasks I give them as well." "I gave you the test to give you the benefit of the doubt."
While my student passed the test he decided to go back to school and work for his "piece of paper."
I don't know if that was a LIFE LESSON for him - but it certainly was for me. And when he told me the story I cried.....
-----------------------------
WEAR OUT or RUST OUT?
An acquaintance of ours died the other day. She was only 60 years old and had retired 5 years ago because of a combination of obesity and self-inflicted health related issues. Sadly it was these same issues that accelerated her early death.
She sat at home and never went out except in rare circumstances. She hastened her own end simply because of a poor self image and an unwillingness to do anything.
There was no one at side when she died. Her sister came from out of town and was forced to have her home condemned because of the mountain of trash.
Lesson Learned: You can wear out or rust out - I prefer the wear out. How about you?
----------------------------------
An acquaintance of ours died the other day. She was only 60 years old and had retired 5 years ago because of a combination of obesity and self-inflicted health related issues. Sadly it was these same issues that accelerated her early death.
She sat at home and never went out except in rare circumstances. She hastened her own end simply because of a poor self image and an unwillingness to do anything.
There was no one at side when she died. Her sister came from out of town and was forced to have her home condemned because of the mountain of trash.
Lesson Learned: You can wear out or rust out - I prefer the wear out. How about you?
----------------------------------
Tuesday, January 24, 2006
TAX TIP (US):
http://www.bankrate.com/brm/itax/news/20060125b2.asp?caret=29
"Car costs
Just before each tax year begins, the IRS determines how much drivers can write off for their various road trips in the coming 12 months. Unexpectedly high gasoline prices in 2005 prompted the agency to adjust those figures upward for the last four months of the year.
This was a welcome recalculation, but it also means you'll probably have to figure your mileage deductions twice.
If you used your car for business between Jan. 1 and Aug. 31 last year, you can write it off at the rate of 40.5 cents per mile on your 2005 return. Travel for medical purposes during that time frame is deductible at 15 cents per mile, as is move-related mileage.
On Sept. 1, the IRS increased the rates to 48.5 cents per mile for business travel and 22 cents per mile for medical and moving miles.
The mileage deduction for travel related to charitable services is not adjusted for inflation. It is set by law at 14 cents a mile. However, Congress decided to modify that figure for driving done in connection with Hurricane Katrina relief efforts. This deductible rate is 29 cents a mile for travel between Jan. 1 and Aug. 31, and 34 cents for qualified trips taken between Sept. 1 and Dec. 31.
Remember: This increased charitable mileage rate is only for Katrina-specific volunteer services. Travel for all other charities at any time last year is worth only the standard 14 cents a mile on your return."
----------------------
http://www.bankrate.com/brm/itax/news/20060125b2.asp?caret=29
"Car costs
Just before each tax year begins, the IRS determines how much drivers can write off for their various road trips in the coming 12 months. Unexpectedly high gasoline prices in 2005 prompted the agency to adjust those figures upward for the last four months of the year.
This was a welcome recalculation, but it also means you'll probably have to figure your mileage deductions twice.
If you used your car for business between Jan. 1 and Aug. 31 last year, you can write it off at the rate of 40.5 cents per mile on your 2005 return. Travel for medical purposes during that time frame is deductible at 15 cents per mile, as is move-related mileage.
On Sept. 1, the IRS increased the rates to 48.5 cents per mile for business travel and 22 cents per mile for medical and moving miles.
The mileage deduction for travel related to charitable services is not adjusted for inflation. It is set by law at 14 cents a mile. However, Congress decided to modify that figure for driving done in connection with Hurricane Katrina relief efforts. This deductible rate is 29 cents a mile for travel between Jan. 1 and Aug. 31, and 34 cents for qualified trips taken between Sept. 1 and Dec. 31.
Remember: This increased charitable mileage rate is only for Katrina-specific volunteer services. Travel for all other charities at any time last year is worth only the standard 14 cents a mile on your return."
----------------------
DOING YOUR OWN TAXES: DON'T
I am always amazed that some people (those who need to itemize) will do their own taxes. Clearly there are SPECIALISTS in life that can save your financial resources and this is one of them.
One year, when in my 20's, I did my own taxes and was not pleased with the results. I decided on a SECOND OPINION with a certified tax consultant and was able to save enough money to pay the consultant for the next 12 years. Since that time I consider this an absolute necessity.
What is important is to keep ALL your financial records and planning calendars. Good record keeping is also a necessity.
------------------------------------
I am always amazed that some people (those who need to itemize) will do their own taxes. Clearly there are SPECIALISTS in life that can save your financial resources and this is one of them.
One year, when in my 20's, I did my own taxes and was not pleased with the results. I decided on a SECOND OPINION with a certified tax consultant and was able to save enough money to pay the consultant for the next 12 years. Since that time I consider this an absolute necessity.
What is important is to keep ALL your financial records and planning calendars. Good record keeping is also a necessity.
------------------------------------
Sunday, January 22, 2006
ADVICE:
Advice (given) and (taken) is a particularly peculiar human variable.
Today I went swimming at the local high school pool. I watched two girls from the swim team in practice doing lap races. The younger of the two consistently lost the races for multiple reasons but one reason really stood out - she raised her hand out of the water much higher (and longer) than her opponent.
I watched and asked myself if I should offer some advice. I knew from my years of youthful experience on a swim team (45 years ago) that trying to find that "edge" was difficult and elusive. So I asked if she "MINDED" if I shared some advice.
I don't know if she was just being polite to al OLD MAN or whether my observations really mattered but she was smiled and took it all in and said "thank you."
You can always throw advice away but you cannot always get it. Your attitude and reception to ANY advice will determine whether you receive it again from that person. Once "burned" you probably will get nothing in the future.
-----------------------
Advice (given) and (taken) is a particularly peculiar human variable.
Today I went swimming at the local high school pool. I watched two girls from the swim team in practice doing lap races. The younger of the two consistently lost the races for multiple reasons but one reason really stood out - she raised her hand out of the water much higher (and longer) than her opponent.
I watched and asked myself if I should offer some advice. I knew from my years of youthful experience on a swim team (45 years ago) that trying to find that "edge" was difficult and elusive. So I asked if she "MINDED" if I shared some advice.
I don't know if she was just being polite to al OLD MAN or whether my observations really mattered but she was smiled and took it all in and said "thank you."
You can always throw advice away but you cannot always get it. Your attitude and reception to ANY advice will determine whether you receive it again from that person. Once "burned" you probably will get nothing in the future.
-----------------------
Saturday, January 21, 2006
ANGER:
Today I was angry with someone. I was more disappointed in how I dealt with the issue than the person who raised it. Tomorrow I am going to ask an apology from this person - not because I feel I was intellectually wrong but because I did nothing to make the person respect me or my position. Hopefully if this person accepts my apology they will have greater consideration for my actions in the future - if not - I will have no chance to change their future actions.
--------------------
Today I was angry with someone. I was more disappointed in how I dealt with the issue than the person who raised it. Tomorrow I am going to ask an apology from this person - not because I feel I was intellectually wrong but because I did nothing to make the person respect me or my position. Hopefully if this person accepts my apology they will have greater consideration for my actions in the future - if not - I will have no chance to change their future actions.
--------------------
Friday, January 20, 2006
MARRIAGE AS AN INVESTMENT?:
An interesting commentary on NBC the other night made the astute comment that a "successful lifetime marriage" resulted in 2 to 4 times greater accumulation of wealth than single or divorced people. While I don't think this is "rocket science" it does point out how important it is to for people to make the effort to preserve a "marriage in trouble" or else face the financial consequences. And for people who are planning on living the "single lifestyle" there is a GREATER NEED to make responsible financial planning throughout their lives.
NOTE: And while nearly 50% of all US marriages end in result you can bring the ODDS DOWN SUBSTANCIALLY according to http://www.divorcereform.org/real.html
Percent Decrease in Risk of Divorce
Annual income over $50,000 (vs. under $25,000) -30%
Having a baby seven months or more after marriage (vs. before marriage) -24%
Marrying over 25 years of age (vs. under 18) -24%
Own family of origin intact (vs. divorced parents) -14%
Religious affiliation (vs. none) -14%
Some college (vs. high-school dropout) -13%
----------------------
An interesting commentary on NBC the other night made the astute comment that a "successful lifetime marriage" resulted in 2 to 4 times greater accumulation of wealth than single or divorced people. While I don't think this is "rocket science" it does point out how important it is to for people to make the effort to preserve a "marriage in trouble" or else face the financial consequences. And for people who are planning on living the "single lifestyle" there is a GREATER NEED to make responsible financial planning throughout their lives.
NOTE: And while nearly 50% of all US marriages end in result you can bring the ODDS DOWN SUBSTANCIALLY according to http://www.divorcereform.org/real.html
Percent Decrease in Risk of Divorce
Annual income over $50,000 (vs. under $25,000) -30%
Having a baby seven months or more after marriage (vs. before marriage) -24%
Marrying over 25 years of age (vs. under 18) -24%
Own family of origin intact (vs. divorced parents) -14%
Religious affiliation (vs. none) -14%
Some college (vs. high-school dropout) -13%
----------------------
PURCHASING EXTENDED PRODUCT WARRENTIES:
I seldom buy, nor would recommend, the purchase of extended product warrenties. Most people who even buy them seldom even remember they have them, can't find the necessary documentation, or discarded the product as obsolescent. Probably 90%+ of the warrenties included with newly purchased items are never used (a guess).
Every product does require some investigation on your part. Some exceptions that might warrent consideration but they need to be weighted by the issues of RISK VS REWARD. For example paying $20 to extend a warrenty on a $200 DVD player from one year to three or four is probably a waste of your resources.
If your GOOD at saving money and keeping it FLUID you do not normally need an extended warrenty. Repairs are just part of your household budget.
-------------------------------
I seldom buy, nor would recommend, the purchase of extended product warrenties. Most people who even buy them seldom even remember they have them, can't find the necessary documentation, or discarded the product as obsolescent. Probably 90%+ of the warrenties included with newly purchased items are never used (a guess).
Every product does require some investigation on your part. Some exceptions that might warrent consideration but they need to be weighted by the issues of RISK VS REWARD. For example paying $20 to extend a warrenty on a $200 DVD player from one year to three or four is probably a waste of your resources.
If your GOOD at saving money and keeping it FLUID you do not normally need an extended warrenty. Repairs are just part of your household budget.
-------------------------------
PROTECTING YOUR MAJOR INVESTMENT: (YOUR HOUSE)
The average homeowner should budget 1% to 3% of the home's value for annual maintenance, depending on the age and size of the home and area climate. Some years it might cost more, other years less. Nevertheless, what is really important is to make a periodic walk through and around your property looking for issues to be resolved. Once identified - deal with them. Sometimes just catching a minor leak can save you hundreds or thousands of dollars in repairs. (For example, my mother-in-law saw water on the basement floor but did nothing about it until it backed up in the upstairs bathroom.) This applies to CONDO owners in particular since they receive periodic assessments (often unannounced.)
I would strongly recommend keeping a separate money market account just for REPAIRS and AUTO REPLACEMENT (both of which are in my yearly budget.) Currently I am earning 3.5% interest on my money market account which is the same rate as the inflation rate.
-------------------------------
The average homeowner should budget 1% to 3% of the home's value for annual maintenance, depending on the age and size of the home and area climate. Some years it might cost more, other years less. Nevertheless, what is really important is to make a periodic walk through and around your property looking for issues to be resolved. Once identified - deal with them. Sometimes just catching a minor leak can save you hundreds or thousands of dollars in repairs. (For example, my mother-in-law saw water on the basement floor but did nothing about it until it backed up in the upstairs bathroom.) This applies to CONDO owners in particular since they receive periodic assessments (often unannounced.)
I would strongly recommend keeping a separate money market account just for REPAIRS and AUTO REPLACEMENT (both of which are in my yearly budget.) Currently I am earning 3.5% interest on my money market account which is the same rate as the inflation rate.
-------------------------------
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