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Personal Budget--How Do You Categorize..

Posted by choufleur (My Page) on
Mon, Nov 6, 06 at 21:18

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

Follow-Up Postings:

RE: Personal Budget--How Do You Categorize..

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.

RE: Personal Budget--How Do You Categorize..

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.

RE: Personal Budget--How Do You Categorize..

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

RE: Personal Budget--How Do You Categorize..

Dog. A pet.

Luxury item.

RE: Personal Budget--How Do You Categorize..

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?)

RE: Personal Budget--How Do You Categorize..

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.

RE: Personal Budget--How Do You Categorize..

Initial installation - Home expense.
Monthly Monitoring Fees - Utility.

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