Personal Budget--How Do You Categorize..

choufleur

17 years ago

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

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Comments (7)

steve_o
17 years ago
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.
davidandkasie
17 years ago
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.
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joyfulguy
17 years ago
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
chelone
17 years ago
Dog. A pet.

Luxury item.
chisue
17 years ago
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?)
cindyb_va
17 years ago
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.
gardenspice
17 years ago
Initial installation - Home expense.
Monthly Monitoring Fees - Utility.

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Personal Budget--How Do You Categorize..

Comments (7)

steve_o

davidandkasie

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joyfulguy

chelone

chisue

cindyb_va

gardenspice

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