Personal Budget--How Do You Categorize..

choufleurNovember 6, 2006

Home Alarm System. Not sure if I should put this under home expense or utility. Any suggestions?

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Flip a coin. :-)

Seriously, it's not like maintaining an alarm system gets you a tax deduction or anything. I guess I'd be more inclined to throw it under Home Expense because most folks (I) can live without an alarm system. I couldn't go that long without electricity, water, etc. -- the things I typically consider Utilities.

    Bookmark   November 7, 2006 at 12:37PM
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how you categorize that is a matter of personal choice.

you COULD list it as income, since it saves money on homeowners insurance. according to my agent, and friend who have done it, mine will go down ~15% when i get my monitored alarm system installed.

    Bookmark   November 7, 2006 at 3:25PM
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Hi sour Kraut,

(Or is that "cabbage"?).

Don't have much of a suggestion - the one above about whether it might be deductible may be important.

All that I have is a smoke alarm - rented home: law requires it. But my landlord would install it anyway: he's a great guy.

Don't have a co2 alarm, though.

ole joyful

    Bookmark   November 7, 2006 at 3:47PM
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Dog. A pet.

Luxury item.

    Bookmark   November 7, 2006 at 7:40PM
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If it's not a monitored alarm, I'd say it's a maintenance item. Monitored, it's a service. (It should generate a reduction in home insurance, don't you think?)

    Bookmark   November 8, 2006 at 12:51PM
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Well, for my personal budget, I consider it a home expense. For me, "utility" is something that are basic necessities; heat, electricity, water, phone, sanitation. Other expenses that are nice to have, but not critically necessary are things like home security and cable TV. These would be home expenses and fall into the category of those I would be able to cut in a financial crisis.

    Bookmark   November 9, 2006 at 10:21AM
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Initial installation - Home expense.
Monthly Monitoring Fees - Utility.

    Bookmark   November 9, 2006 at 1:56PM
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