Mortgage Monday: Just In Case

When my wife and I originally made an offer on our house one of the things that we made sure to include was a home warranty policy. While we didn’t expect to find anything during the inspections and we don’t anticipate any major issues in the near future you just never know what might happen. The last thing we wanted was to invest such a large amount of money into a home and soon thereafter have to increase our investment because the AC unit finally gave up or the well pump decided to take some time off.

Actually, the reasons are quite a bit more mundane than the major issues that one could face in that first year. Usually it is something as simple as an appliance acting up or a garage door opener that was older than you expected. These are the things that fall beyond the purview of the regular homeowner’s insurance policy and, just like insurance, you never know what might happen. The last thing that I want to happen is that we don’t have something covered, particularly during this first year, and then all of the sudden we have to spend thousands of dollars that we were hoping to keep in the bank.

I’d rather have it and not need it than need it and not have it… sounds like I’m referring to something else doesn’t it. But the same line of thought applies. I don’t want to be caught without it especially when it can impact the well-being and comfort of my family.

This is the just in case for those things that we can’t anticipate happening but, as we have heard and read about, they happen all of the time. So, I guess this could go back to my weekly checks that I referenced previously. Not only checking for the major things that everyone does like the roof and boiler but also the minor things like making sure the appliances sound the way that they should and that the garage door isn’t straining to open.

It really is a nominal cost or, as in our case, no cost option that brings a tremendous piece of mind to this first year in our new house. If something breaks we can take care of it right away and not worry about the financial impact that the repair or replacement might have. Rather than thinking and incessantly worrying, we can focus on enjoying our home and, more importantly, see the enjoyment on our son’s face when he is exploring the play room, looking outside, or watching the buggies as they sway down the road.

No More Fees For You!

Over the years I have had accounts at a variety of banks. For one reason or another, I have also changed banks numerous times. Usually it was because of location or the simple fact that it was bought out by one of the larger financial institutions. In the past it was never much of an issue as I didn’t have many automatic payments and I didn’t write too many checks. However, things change and I am now in the process of shifting things over once again.

While the hours at TD Bank have always been very convenient and the sheer size of the company assures that there is always a location just around the corner, the benefits pretty much stop there. Over the past couple of years I have watched as the various fees have been scattered throughout my monthly statements. I always pay bills on time but ATM and ‘Balance Inquiry’ fees have been a source of annoyance. I sometimes wonder what the account balance would be if those $2 and $3 fees over the past several years where returned. Actually, I really don’t want to know.

In addition to this, the speed at which transactions are processed is about as fast as a constipated turtle. Having already transferred most of our funds to another bank, I can say with certainty that this is not the normal pace at which a bank should be operating. A perfect example is when, some time ago, I transferred my credit card balance to another bank and while I know this other bank sent the electronic payment and posted it to the other account, it still took TD Bank nearly two weeks before confirming the transaction and reflecting that on my statement.

I am done with this particular company. Heck, this bank wasn’t my choice anyway as I originally had an account with Commerce Bank. So now I am taking my funds, as limited as they may be, and moving them to a local bank. While there hours and locations may not be as convenient, the service and speed thus far is something that we haven’t experienced in the past. When we have a question there is always someone there to answer it, transactions are posted within a day, and the fees have magically disappeared replaced by an interest bearing checking account. It is a bank that choses to deal with their customers not solely the accounts associated with them. It is nice to be a person again… a welcomed change… only the latest of a year full of changes.