accountingsucks
Recycles dryer sheets
- Joined
- Jan 28, 2006
- Messages
- 346
Just curious, but what do you all budget on an annual basis for non recurring expense. For me it would simply be car replacement and repairs in addition to home repairs. Medical is not really an issue for me as I live in Canada.
Personally I have added 8,000 to my annual expenses as recurring split as 2,500 for car and 5,500 for home repairs. The car assumes a 20-25K car purchased every 10 years + repairs less trade in value for said car. For home I assumed 1.5% of market value as my annual repair estimate.
I really need some feedback on this as I have all my other expenses pretty shored up after tracking them for several years.
Also, I have thought that this would be one advantage of owning a condo in that your condo fee includes exterior maintenance so this is a known cost reducing uncertainty. This assumes the condo has an adequate reserve to avoid any large one time costs.
Personally I have added 8,000 to my annual expenses as recurring split as 2,500 for car and 5,500 for home repairs. The car assumes a 20-25K car purchased every 10 years + repairs less trade in value for said car. For home I assumed 1.5% of market value as my annual repair estimate.
I really need some feedback on this as I have all my other expenses pretty shored up after tracking them for several years.
Also, I have thought that this would be one advantage of owning a condo in that your condo fee includes exterior maintenance so this is a known cost reducing uncertainty. This assumes the condo has an adequate reserve to avoid any large one time costs.