If you are a homeowner, it\u2019s smart to make sure you have an annual savings fund just for your house.<\/p>\n
\u201cSome years you might have no expenses, and other years there may be massive repairs and updates,\u201d said Becky Krieger, a managing partner with Accredited Investors Wealth Management.<\/p>\n
She says no matter the home you own, be ready with a cash fund.<\/p>\n
\u201cThe rule of thumb is to have 1-3% of that home value set aside for upcoming maintenance, repairs, and remodeling and increased expenses that may come up along the way,\u201d Krieger said.<\/p>\n
On a $400,000 home, that\u2019s $4,000 to $12,000 cash ready.<\/p>\n
This fund is in addition to the three to six months savings of an emergency fund.<\/p>\n
\t\t\t\t\t\t\t\tFor Related Stories:\u00a0Home Ownership<\/a>\u00a0\u00a0Money Minute<\/a>\u00a0\u00a0Paul Folger<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"If you are a homeowner, it\u2019s smart to make sure you have an annual savings fund just for…\n","protected":false},"author":2,"featured_media":22222,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[28,3206,20068,20069,147,530],"class_list":["post-22221","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-home-ownership","tag-money-minute","tag-paul-folger","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/22221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=22221"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/22221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/22222"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=22221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=22221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=22221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}