So, yesterday I wrote my first policy as an insurance agent. Of course it was own policy so I am officially my first client but hey it still counts. I did save almost 500 dollars on my auto policy alone for the year and I’ll be writing the home here fairly soon and it will be another savings of about 250 dollars. I have another client that looks like he is going to bind with me hopefully early next week on two policies an auto and a motorcycle policy.
My training has been a real struggle this week, only getting in a 3 miler on Monday, 4 on Tuesday, and 6 on Thursday. I really need to get focused on this and am hoping that since I’m now documenting my plan to run a marathon this fall, I’ll be able to hold myself accountable to the training required to do it.
The next of the “Kip Tips” in the Kiplinger’s magazine is one that I absolutely agree with, and that is having an emergency fund. I say that I absolutely agree with it, but I’ll be honest I do not have anywhere near the emergency fund I should (as a matter of fact we probably have about 300 dollars in savings). This is one area that I am really trying to focus on, as we start to clear some debt off of our household balance sheet. I have heard several different numbers in regards to the amount of months of household expenses you should have in a liquid emergency fund. They range from 3-6 months (this was a prominent number when the economy was booming), 6-9 months (which is the common number you hear now), but my favorite is probably 1 month for each percentage of the unemployment percentage number. So right now unemployment rate is approximately 8%, so you should have 8 months of emergency funds, and then the number adjusts itself to fit the economic times, because when the economy is strong the unemployment rate is only about 4.5% to 5%. That’s it for the weekend, I’ll be back on Monday to update the weekend excursions.
Make every day great,