Chapter 10. Saving for a Rainy Day[11]


Saving for a Rainy DayThis article was originally published in The Rational Edge, April 2002. It is reprinted here, with modifications, with permission from IBM.

An article in a home remodeling magazine noted that “the prudent homeowner sets aside 20 percent of his budget for cost overruns and unexpected expenses.” This sounds like good advice, doesn’t it? Most remodeling projects include surprises, like the time the carpenter who built my deck spent an unplanned and exhausting half-day augering through a tangle of twisted tree roots to dig holes for the deck supports. My deck wasn’t completed as quickly as the carpenter had promised ...

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