I received in the mail today, my refund check in the amount of $15.47. I will be depositing this into my insurance savings, so I can get closer to the $280 Insurance payment due later this month.
Yesterday, I found an unopened letter from my insurance company, dated in June. When I opened it, I found a refund check for $12.63. Apparently, when I raised my deductable on my home, they issued a refund check for the savings. This check was also deposited into my Emergency & Insurance Fund.
Someone might ask why I have these 2 funds combined when Ramsey says to keep emergency fund seperate from everything else. The answer is simple, if you think about it insurance covers emergencies. Therefore any deductables, I am self-Insured and would be part of the Emergency fund anyway. All I am doing is adding the extra $2000/yr I pay in premiums to this savings, making my base fund $3000 instaed of $1000. Eventyally though, the savings will be $10,000.
No comments:
Post a Comment