Identify Annual Recurring Expenses

Do you find yourself stressed over paying annual car registration fees or insurance premiums? If so, it's a good idea to take the time to review your annual expenses so you're not scrambling at the last minute. Even though we know these expenses are coming, it's different when the bill comes and we are caught off guard.

Take the time now to review your expenses over the last year and see which annual expenses come up. There are known recurring expenses such as insurance premiums and annual credit card fees but you may also find some unknown recurring expenses. Perhaps you signed up for a free trial on an app or other service and didn't cancel in time? Cancel any annual subscription fees you didn't consciously opt-in to. Now is a great time to find those hidden fees and take action!

Once you have a list of your known annual expenses you can set up a monthly budget by dividing the annual fee by 12. You can keep these savings in a checking or savings account. Next time an annual fee comes, you will be ready!

Let me know how it goes! You can shoot me an email at hello@financesforfeminsts.com. Well done on another bingo square completed!