Above Rubies Magazine Special Edition : Page 37
them as ordinary, predictable and necessary expenses just like your house payment and grocery bill. What is a Freedom Account? An account that allows you to plan for the unexpected and irregular expenses into one single monthly expense. It is a lot like a Christmas club account. You decide how much you will anticipate and then automatically put that amount aside each month. To get started, follow the steps below: Make a list of your irregular expenses Go through check registers, bank and credit card statements to determine your irregular expenses. If you don’t have good records, take a good guess. Examples are Christmas, car repairs, car insurance, property taxes, family benevolence and vacation. Decide which line items you would like to begin with. You may want to start small, maybe two or three. The more line items you have the more it will cost you per pay period. Once you have a list, determine how much it will cost a year for each line item and divide by 12 which represents one twelfth of the total annual expense.
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