Would it be easier to pay your expenses yearly instead of monthly?
@handsomeitaliano (1050)
United States
April 17, 2010 12:41am CST
Let's say you have two jobs. All the money from your second job you use to save up for ALL of your expenses you have to pay for the following year, that way you can just save all the money from your main job. What does everyone think of that idea? I think it can work depending on two things: How much the expenses are and how much money is being made from the 2nd job. But if the expenses aren't too much then why not?
My yearly expenses (rent, cable, etc.) add up to $8000 total. So if I can use my second job to save up $8000 for 2011..... you see where I'm going with this? I think it would be much a easier and cool way to live as opposed to this month to month crap. Anyway, I'm currently in the process of trying this out. I just wanted to get everyone's input on the idea and if anyone has any other ideas to add?
1 person likes this
6 responses
@drkraven (521)
• Romania
17 Apr 10
2 jobs or 1 job, if you make the same amount of money (more or less) each year, and you live in a country where the price for utilities doesnt change every month (or just by a insignificant amount) i don t see a difference between paying for it every month, every 2 months or once a year. Ofc there is the factor of going somewhere to pay unless you pay online but i apreciate the exercise since lately i was too lazy to go running :)
@handsomeitaliano (1050)
• United States
17 Apr 10
Well wouldn't you be saving the money from your first job, your main full time job, whereas your side job would be paying for your rent, etc.? So wouldn't it still make a difference?
Oh and when I said pay all this things annually, I meant just pull the annual amounts of all the utilities, rent, etc. in one separate bank account just to get it out of the way. So in other words, it would still be paid month to month, but the beauty is that you already have the money put aside for the entire year and none of it came from your full time job.
@drkraven (521)
• Romania
17 Apr 10
sry i might be tired but i still don t get what the post was about.
Lets say you make 2k from 1 job, and 2k from the second job.Each month.
Your utilites are 1 k a month. No matter from wich job you re paying them or how often you do, i m pretty sure you ll end up with 3 k in your hand each month utilities free :)
@dragon54u (31636)
• United States
17 Apr 10
I prefer the month to month. I can adjust my spending, cut out some options or add others depending on my financial outlook--mostly I just cut because taxes are killing me. I think that when you pay monthly you have a more realistic picture of what you are spending.
@green3mama (39)
• United States
17 Apr 10
That sounds like an interesting idea. I don't think I'd be able to do that with my mortgage and right now I'm building a home business and my husband is only working one job so I don't think we could swing it. Plus, I don't trust those utility companies!
Gina Lopina
http://glopina.successin10steps.com
@CJscott (4187)
• Portage La Prairie, Manitoba
17 Apr 10
It may be, if you can earn the total yearly cost, and have it ready in one month, I would prepay it.
With Appreciation.
