davidbeitz
Dryer sheet wannabe
how do you budget for a one time yearly expense like property taxes? Do you divide the amount by 12 and budget for it monthly? or do you just have it in the budget for one month?
how do you budget for a one time yearly expense like property taxes? Do you divide the amount by 12 and budget for it monthly? or do you just have it in the budget for one month?
+1I plan and track spending on an annual basis. So much simpler.
I plan and track spending on an annual basis. So much simpler.
how do you budget for a one time yearly expense like property taxes? Do you divide the amount by 12 and budget for it monthly? or do you just have it in the budget for one month?
how do you budget for a one time yearly expense like property taxes? Do you divide the amount by 12 and budget for it monthly? or do you just have it in the budget for one month?
We just plan for them as they come due and transfer the funds out of savings into checking. Normally we have a negative cash flow in the fall because that's when the bills arrive for property taxes, house and car insurance and the umbrella policy. Last year was the first year I was getting SS so we didn't have to take out as much as usual but the SS income didn't cover all of it.
I just have an annual budget, not a monthly one.
But when I look at my spending year-to-date, anything that is paid annually like various kinds of insurance, property taxes, gifts, are divided by 12 to determine my "run rate" - the YTD spending projected to total year spending.
how do you budget for a one time yearly expense like property taxes? Do you divide the amount by 12 and budget for it monthly? or do you just have it in the budget for one month?