article thumbnail

How to Budget (and Pay) for Yearly Bills + a FREE Speadsheet

Family Balance Sheet

They can cause a panic, especially when just one bill is into the four figures, like our property taxes or auto insurance! Every month going forward, transfer this money into a separate savings account that is connected to your checking account. Not sure how to budget for your once-a-year bills?

Bills 130
article thumbnail

Create a Personal Escrow Fund | 31 Days to Organize Your Finances

Family Balance Sheet

Does your property tax bill give you anxiety? Our homeowners insurance and property taxes are not tied in with our mortgage so we receive those bills and are responsible for paying them instead of the bank that owns the mortgage. When a bill comes due, I transfer from the savings into the checking to pay to bill.

Finance 100
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

5 Books with Insights that Changed the Way I Think About Money

Prairie Eco-Thrifter

We have to pay for maintenance and property taxes and the interest on the loan. These costs are are only partially offset by the fact that, in the United States, I get a tax deduction for some of them. This book encouraged me to stop thinking of my primary residence as an investment. And, of course, it hasn’t been.

Money 237
article thumbnail

A Goal Without a Plan is Just a Wish

Family Balance Sheet

On top of our normal day to day expenses, the new property taxes were due, we had more ownership expenses than we realized, and we had a family to feed. We must start saving for retirement again , we need to start college saving accounts, and it would be nice to take the kids to Disney while they’re still princess fans.

Goals 100
article thumbnail

Meet a Reader | Mary from Reflections Around the Campfire

The Frugal Girl

Now I wish those dollars had gone into our savings accounts. Alan and I, by choice, bought land in an area with low property taxes. Had we not fallen in love with the locale, it wouldn’t have mattered how low the taxes were, but fall in love we did. Alan doesn’t share that regret.