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$20K Update - Received Insurance Check for Hail Damaged Roof

October 23rd, 2019 at 02:12 pm

We had hail damage to the roof on Rental #2. Our home insurance covered it and sent us a check for $6994.45. We put it into savings, but since it is being held by the bank until we actually work on the roof, I am not adding it to the savings totals yet. We won't even think about doing the roof until next spring as we live in the Midwest and it is already cold and snowy.

I won football picks last week and won $60! MO won this week, but we haven't gotten his check yet, so I will add his once we get the check.

We also got our yearly dividend check from our local gas station and added that to savings.

Current Balance $17,370.00
+$30.00 Cell Phone Savings
+$60.00 Football Win
+$80.00 FB Sales
+$120.00 Dividend Check
+$50.00 My Payday to Our Savings (10/18)
+$75.00 My Payday to Mom Loan Savings (10/18)
Balance $17,785.00

Local Savings $6200.00
GC Savings $1350.00
Capital 360 Savings (US) $5165.00
Capital 360 Savings (Mom Loan Payback Account)$2720.00
Capital 360 Savings (Rental Deposit Account #1)$850.00
Capital 360 Savings (Rental Deposit Account #2)$1500.00
Total Savings = $17,785.00

52 Week Challenge
2019 Total = $1138 (Weeks 1-29, 33-47, and 51-52 are paid)

4 Responses to “$20K Update - Received Insurance Check for Hail Damaged Roof ”

  1. rob62521 Says:

    Isn't that sweet! Yay!

  2. crazyliblady Says:

    Is there a time during which you must cash the check by, like an expiration date? Also, if there is rain and snow occurring in the winter in the winter, aren't you worried about leaks?

  3. CB in the City Says:

    I was going to mention the possibility of leaks, too. I would get on it right away, myself!

  4. Banker Gurl Says:

    Unfortunately the weather here does not allow for us or workers to be up on the roof at this time. The appraiser, my husband, and my Dad (lifelong carpenter) all said it will be fine, so I have to go with their professional opinions. I definitely asked about it several times to make sure!

    The check is deposited into our savings account, but the funds are on hold by the bank we have our mortgage with until we request the money to pay for the supplies/labor or provide receipts for those items.

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