I break it down to 3 main categories:
- Housing
- Transportation
- Personal expenses
Depending on the household, by automating a savings plan on a weekly, bi-weekly or monthly basis, you can be assured that you will no longer need to rely on your line of credit and play catch up after an infrequent expense.
Imagine having the money sitting in an account so that when it’s time to pay for your municipal, school taxes, car repairs, or vacations, you just pay it!