Most people take steps to protect their everyday valuables. We lock our cars, keep an eye on our wallets, and avoid leaving purses unattended. But few people consider that someone could attempt to steal something far more valuable — their home.

The growing hazard risks from fire, hurricanes, to other natural disasters are making it more expensive and more difficult to get good insurance coverage in many states including Texas, Colorado, and New Mexico. Places like the Texas coast, Austin, Boulder, Santa Fe, all bare their own challenges.

Budgeting is a critical component of successful financial planning, whether you’re embarking on a long-distance Appalachian Trail (AT) thru-hike or remodeling your home. While these two projects differ significantly in nature—one being a physical and mental endurance challenge, the other a domestic investment—they share common financial planning principles. Both require clear budgeting, an understanding of potential cost overruns, and a well-considered contingency fund.