We're finally (I think) at a position financially that we can set up a new account to save for non- monthly occuring expenses. Things like property taxes, heating fuel, garbage pick up, and even Christmas spending.
We've been scrambling each time most of these expenes occur to figure out how to pay for them. So, here are the annual totals:
Property taxes (summer and winter) - $540
Heating fuel (three fill ups per season) - $2,238
Garbage pick up (paid quarterly) - $200
Christmas - $700
All totaled - $3,678
Montly expense - $306.50
So, I'm going to start allocating that amount to a new savings account each month.
New Account
February 7th, 2012 at 01:22 pm
February 7th, 2012 at 01:51 pm 1328622709
February 7th, 2012 at 02:05 pm 1328623526
I have saved this way for nearly fifteen years...sometimes weekly, monthly or twice a month like we do now.
Let us know how it works out!
February 7th, 2012 at 02:31 pm 1328625098
You've fully embrace Mary Hunt's strategy presented in Debt-Proof Living. Should take the headache out of those extraneous (yet predictable) expenses.