Rolling it all into ONE...

Making some new changes with our budget process and taking it one step further. In 2007, we have lumped together all our "yearly expenses" and aptly naming them 2007 yearly expenses (wow how original). The yearly expenses will consist of biannual and annual payments that normally catch up with us eventually; consisting of homeowners insurance (annually), real estate tax (biannually), auto insurance (biannually), water and sewer payments (bimonthly). This will total approximately $4500 per year. We set up a seperate account to pay for these charges when they come up throughout the 2007 year. Given this is only good for the 2007 year and this also allows us the flexibility to have lower monthly outgoing expenses to have to worry about. However we need to put a system in place for 2008 yearly expenses during the 07 year. Basically this system is to make it so I dont feel the pinch monthly from take home pay or have to budget an extra catagory during these months. We have paid our yearly membership to Sams Club and have been gathering discounted gift cards like squirrels for the baby's clothes next year (as if we're not going to get tons of clothes from all our friends/ relatives). So anyway I'll be posting our financial resolutions shortly because we do have alot of catch up to do. Also my wife's birthday is on the 4th!! Its exciting that we both get to be the same age for 8 months out of the year: its the big 2 - 6!! So I gotta get her something nice this year for being such a trooper and doing so well with the pregnancy :) posted by The American Dollar at 12:30 PM