How to Budget for Quarterly and Annual Bills Without Stress | 555
4/20/202615 min
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This week, we pulled two real questions from our Facebook group, and they both came down to one thing: savings buckets. We’re talking through how to save for something coming up in just a few months, what to do when quarterly or annual bills pop up, and why you do not need to track every single dollar in your account at every moment.
If you’ve ever wondered how to make short-term savings goals work inside your budget, how to pay bills from savings buckets, or how to stop stressing about check dates and bill dates, this episode is for you. We’re keeping it simple, practical, and way less overwhelming.
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Clips
Transcript preview
First 90 secondsVanessa· Host0:00
We used to have some people who said, "I just wanna put my quarterly bill, I wanna divide it by three and put it in my budget monthly." But then they would not understand in two months why they had an extra $300 in there, and they would take it out because they were like, "There's this extra. I'm gonna put it on debt or I'm gonna go spend it." And I'm like, "No. We have to remember you added that quarterly bill." So it's just- And who wants to have to remember that? Yeah.
Shana· Host0:17
No.
Vanessa· Host0:17
It just gets convoluted. So just take the quarterly and annual bills out of your monthly bills account, and you can either have the savings bucket that you transfer over to bills, or like Shana said, our new upgrade is to have it. Just make it a checking account.
Shana· Host0:28
Mm.
Vanessa· Host0:29
And auto-draft those bills out. You probably don't even need a debit card for them because they all usually now are taking ACH direct payments. So it just makes it super easy. [upbeat music] Do you make good money but have nothing to show for it?
Shana· Host0:39
Are you tired of living paycheck to paycheck?
Vanessa· Host0:42
Do you have big dreams for your financial future?
Shana· Host0:44
Do you wanna get debt-free, but you don't wanna live on beans and rice?
Vanessa· Host0:48
And you don't wanna give up those pumpkin spice lattes?
Shana· Host0:50
Hey, it's okay if you don't already know how to budget or if you're using credit cards to get through the month.
Vanessa· Host0:55
Hey, it's okay if you wanna seem like you have your finances all together or you're not on the same page with your spouse when it comes to finances.
Shana· Host1:03
We know what you're doing probably isn't working. But guess what? You're in the right place. We're Shana.
Vanessa· Host1:08
And Vanessa. We're best friends, business partners, and master financial coaches trained by Dave Ramsey. We've been in business since 2019, helping hundreds of amazing people like you create budgets, get out of debt, stop living paycheck to paycheck, and know exactly what to do with their money.
Shana· Host1:23
In this podcast, we'll share with you everything we know, plus everything we're working on with our clients so that you have the best chance