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PFT #50 - Personal Finance Tip of the Week: Fire Extinguishers Save Lives and Money

An often overlooked item in one’s domicile is a fire extinguisher and the importance that it provides especially in the kitchen.

According to US fire departments respond to an estimated average of 172,900 home structure fires by cooking activities.

These fires caused an average of 550 civilian deaths, 4,800 injuries, and more than $1 billion in direct property damage per year.

In addition, this often increases during Thanksgiving and Christmas; and the leading cause of fires are due to clothing ignitions.

Regardless of where and how a fire starts, safety is important.

Just from a quick internet search, I found that prices for extinguishers ranged from $17 - $65 depending on certain factors.

In fact, I just picked one up from Costco that is designed for the kitchen for just $14.

The other value in the equation is that disposable and traditional fire extinguishers generally have a 10-12 year life expectancy.

In addition, you can also refill them through local businesses or the fire department.

The bottom line is that stocking this heavy, red, canister of foam can avoid an insurance claim that may cost you money or raise your insurance premium.

Lastly, no price can be placed on the value of one’s life, especially for such a simple and cost effective solution.

Episode Link:

Fire extinguishers save lives and are a low cost solution


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