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Prepare for Irregular Expenses with a Freedom Account [Personal Finance]
via Lifehacker by Adam Pash on May 11, 2008
In addition to your traditional checking, savings, and emergency accounts, financial weblog Get Rich Slowly suggests setting up another money bucket for irregular or unexpected expenses. Sock away money in a "Freedom Account" for expenses like clothes, vacations, and car maintenance. Setting this money apart from your regular monthly bills ensures you keep a tighter rein on what you spend on irregular expenses, and it also helps you set savings goals for larger purchases. Whether or not you're already doing something along these lines, let's hear how you track and manage your irregular expenses in the comments.Use a Freedom Account to Prepare for the Unexpected [Get Rich Slowly]Shared by: