When it rains it pours! A few days ago we had a nor’easter that brought a lot of rain into my neighborhood. Well the construction next door messed up my roof, were all the water spilled over to the lowest point in the ceiling which is right above my bedroom. A leak started and off part of the ceiling fell off from my bedroom.
The damages were minimum yet there were still damages. I had to get a new bed ASAP. This was the perfect reminder as to why an emergency fund needs to be built for a “rainy day.”
Unfortunately, I don’t have a strong emergency fund as it has been depleted by school but needless to say I am right back at building one even if it means setting aside $15 per week or even more. How I am going to do it? I have a Smarty Pig Account which I can set up automatic deposits from the my checking account. What I like about having an account outside of my personal bank is that its harder for me to dip into it as it’s not visible in my daily transactions. Also they have a higher interest rate than what Bank of America offers.
The other thing that I ended up getting yesterday was Renter’s Insurance. I know, I know I should have done it years ago. Better late than ever. I ended up going online at Renters Insurance.net. I compared 3 quotes, I made sure to include my alma mater (they offered discounts from my Alumni Association), fill out the form. I ended up finding a reputable renter’s insurance that cover the electronics, jewelry, personal property and a deductible that I can live with. It all comes down to $12 per month which is do-able in my budget.
The bed, well I received a new mattress from my landlords. The construction site next door and my landlords are trying to figure out when they are going to come a re-do the ceiling, etc. Right now there is no more leak.
I have to admit it has quite a shake up. Emotionally it has really caught me off guard but I guess it’s a nice reminder to take small action step for a rainy day.