I've been doing this for a year now and I'll never go back. I used to just expect a large sum of money to exit my bank account at the end of every year to pay HOA dues, vehicle registration, etc. Instead of that crap, I decided to take that known amount, divide by 12, and make an automatic transfer every month into an account named "escrow". I now no longer concern myself with the end of the year.
This could be extended to anything you want...Christmas gifts, cell phones, car insurance etc. I know this isn't a new concept (save for something before you buy it) but I think we usually associate this approach with larger purchases. Hope this helps someone!
Submitted February 20, 2017 at 06:26AM by ziebelje http://ift.tt/2m0aBOU
