In this week's episode, we are discussing how to save for recurring expenses to ease the stress of timing bill payments and paydays. Paying some bills annually can also save money on fees and make life a bit easier. I’m also sharing more about the exciting new course from Balanced FI that will help you get a month ahead on your bills & stop living paycheck to paycheck.
Welcome to the Balanced FI Podcast, episode 7! Thank you so much for listening in!
Saving from each paycheck to pay monthly and annual bills allows you to breathe easier and frees up mental space for other things. This episode is an overview of the content covered in the Bill-Balancing Bootcamp. That course will walk you through the detailed steps of finding your recurring expenses, calculating how much to save from each paycheck, and how to both set up and fund a “bills” checking account. We also talk about evaluating your recurring expenses and paring them down.
The Double Account Method is a great way to stop living paycheck to paycheck and get a month ahead on your bills. It reduces stress and provides more financial stability.
Resources:
Enroll: Bill-Balancing Bootcamp
Read: Financial Security Step 3: Save for Recurring Expenses
Read: Financial Security Step 2a: Save a Mini Emergency Fund
Download: Save for Recurring Expenses Worksheet
Sources: