Don’t you hate it when you are riding the money train and all seems well and then something pops up that you totally forgot about (or aren’t expecting) and you aren’t as far ahead as you thought you were?
This usually happens with those sneaky annual software subscriptions, licensing, or maybe your computer or phone’s finally had enough and you have to replace it asap. You get the point.
If you can plan for these ahead of time so it will make your life so much easier and it will take you 20 mins to figure it out.
- Look over the last 12 months of your bank and credit card statements.
- Total up those annual or semi-annual expenses that always seem to surprise you.
- Take inventory of the things you might have to spend money on in the next 12 months. New computer, travel, etc.
- Figure out how much you can set aside on a monthly basis to cover these expenses.
- Put reminders in your calendar of when these are due so you aren’t caught off guard!
Don’t just put money into savings for savings sake. It’s too easy to use it when cash gets tight. Figure out what you are saving for and when you need to spend the money, you’ll feel great knowing YOU did this – you made a plan and are sticking to it.