Dorothy has nothing on us. We got our butt’s kicked in a nasty windstorm this week that ripped trees from their roots, blew a freight train off of its track, and tore parts of roofs from their underlayment.
They say at its peak the winds reached 81 miles per hour. That’s equivalent to an F1 tornado.
All in all, we were lucky. But it got me thinking; Murphy’s law does not get along with the idea of frugality.
We had just begun to put back the pieces of our financial life when this windstorm arrived and literally ripped small portions of the shingles from our roof.
Our front yard and back yard are scattered with debris and roofing materials.
We will likely need a new roof within the next year. That makes two roofs needed (rental home and primary home) and little money to do it with.
We need an emergency fund
It also made me realize that we really need an emergency fund.
We didn’t get it as bad as others, but we are still going to struggle.
Many people had trees fall on their homes and pipes burst. A good portion of our surrounding neighborhoods were running on generators for 3 days as power was out. I wonder how much that cost?
As part of his “7 baby steps”, Dave Ramsey suggests a $1,000 emergency fund.
I’m not so sure that is enough.
Our home insurance deductible is $1,000 alone. That would leave us with no cushion remaining.
Schedule showings for the rental property and dealing with the tenant
The tenant does not want us there when she is not home. This creates a problem as she is rarely home and works two jobs.
I can already see this becoming an issue.
We need to take pictures so the listing can gain some traction online (listings without photos receive very little attention), and we also need to figure out some sort of system so we can show the house to prospective buyers.
It’s possible that she is using this tactic to delay the sale of the house. I’d like to think she wouldn’t do that sort of thing but… who knows.
The desire to move to a cheaper cost of living
Mrs. Beatles and I have been talking more and more about how great it would be to move to an are with a cheaper cost of living.
Spending a little under $2k per month on mortgage + taxes really takes its toll after a while.
When we were on the MMM forum, we spoke with a lady who had moved to Mexico and started a farm.
Her story really stuck with me.
She had no living room couch, her husband shaved while using a scrap piece of glass as a mirror, and they lived very modestly.
The results? They were able to pay their family back for a loan they took, add on to their business, and save a good amount of cash.
I would link you to her story, but they suspended me from the forum because they thought I wasn’t listening to their advice. But you can probably find her if you head into the journals section – I believe her name was “lady-in-baja” or something similar.