So I am punching numbers.
I have the following question, Building your Emergency Fund is a step 3 item, Debt reduction being step 2.
Where would a house repair that is not really a repair fit in?
I have desided that all my extra $ over the next few months is going to the house savings account that is basically the money I would need to shell out if I had to claim something on my house insurance until it is finished.
Then I need to figure out a plan of attack. See I do not have a deck on my house, I have owned the house for 3 years, we were able to purchase the house without a deck BUT we could not resell the house without putting a deck on the house or putting an ALLOWANCE into the selling contract so that the city knew it would be completed shortly after sell.
It is a safety thing, If there was a main floor fire at the front of the house and we could not exit out the front door, then it is a 2 story drop to get out of the house without the deck built. I want to get this done ASAP but not sure how to prioritze it.
Is building a deck a DEBT because technically it should have already been done for safety reasons and me be paying it off. Or does it fit into step 6 paying off your home early because it is something that needs to be done to the house.
I was thinking maybe it fit into the middle gray area somewhere. I was planning on trying to pay a percentage to the Emergency Fund, The Mortgage Fund, the Escrow Fund and the Deck build. But I figure I have about $450-$500 per month that can be spent/saved IF I am gazzelle intense. If I do the % then it will take me 5 years to finished all them and the deck then move on to the next dave ramsey step.
The problem with that is I hate thinking that I am putting my sons safety at risk for 5 years when if it is a DEBT catergory item then it would be saved for in 21 months or Approx August 2012.
Is there anyone out there that who just wants to slap me and say get over it, it is a safety issue who care what dave ramsey would think and you should take that CC that has a limit high enough to pay for the deck and build the thing financing it at 9% and be done worrying that a fire is going to come along and then it will be a debt to be attacked.
Please help me deside.
Dave Ramsey Followers question
September 2nd, 2010 at 06:45 pm
September 2nd, 2010 at 08:53 pm 1283460812
September 2nd, 2010 at 09:07 pm 1283461630
I don't think he would think much of a $6,000 deck. You need to find a way to purchase materials and labor for a basic escape out your back door with cash. This might mean a simple landing, with stairs to ground level.
You have quite a bit of cash, if I'm reading your sidebar correctly. I got a total of about $10,360. There is cash to build a way to ground level. I know that you are using some of that to save for certain goals. I would look to see if those goals are a bigger priority than your safety.
I hope that helps!
September 2nd, 2010 at 09:25 pm 1283462759
BUT, I also see the point that it is a safety issue.
Then again, I totally agree with ccfree. There has got to be a much simpler/cheaper solution for the interim. Which is exactly what Dave would advise.
Of course, Dave would advise only keeping $1k cash and stopping retirement contributions, to pay off debt. If you have other cash, something to consider.
September 2nd, 2010 at 09:29 pm 1283462997
September 3rd, 2010 at 12:41 am 1283474481
I've never seen any stats on it, but I'd guess decks are the starting point of fires more often than they are the escape route in a fire. So many people put grills, chimneas, or gas patio heaters on them. Open source of flame + flammable structure!
September 3rd, 2010 at 01:41 am 1283478083
September 3rd, 2010 at 09:33 am 1283506416
Jerry
September 3rd, 2010 at 12:43 pm 1283517780
September 3rd, 2010 at 12:44 pm 1283517890
September 3rd, 2010 at 01:21 pm 1283520066
I have thought of buying the rolled up ladders for the bedroom before but always forget about it along with the fire extingisher and CO detector a few months after the safety briefings we have at work.
I am going to buy three ladders (one for each of the two upstairs bedrooms and one to put under the kitchen sink. The window is above the sink and the door to the missing deck is screwed shut so it cant be opened from the inside so the ladder would not be able to be used from there, only the sink window.
Buying 3 rolling ladders if $60-$90 each is still much cheaper than the deck until I can save for the deck.
I will post about the other items brought up in a follow up post.
September 4th, 2010 at 05:25 am 1283577943
September 6th, 2010 at 02:33 am 1283740424