#28 – Planning for Irregular Expenses
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It happened to me just a week ago: I logged into my bank account and saw several big amounts of money had come out of our joint account. I hate it when this happens, even if the charges are 100% legit: our life and home insurance in this case, which we pay for twice a year.
In the past this used to freak me out as I was never quite prepared for this, but over the years I’ve developed my own way to actually deal with this in a pre-planned, organized way. So that even if the bills come as a surprise (which tends to happen as I’m never super aware of when exactly we get charged), at least I know I can actually deal with the expenses, both financially and emotionally.
Because here’s the thing: if you’re not prepared financially, that often means there’ll be an emotional repercussion too. That can be stress from not having enough money, to disappointment about having to take the money from something else, such as a long-term savings goal or family outing.
In this episode I share different strategies with you that will help you be fully prepared for your irregular expenses that come up from time to time but that you might forget about on a monthly basis.
After listening to this episode you’ll know:
- 4 Strategies to prepare for your irregular expenses
- How to calculate how much to set aside each month
- Why a yearly revision of your contributions is essential
Give this episode a listen and decide which strategy you will be implementing to get organized this very week!