Stinking bills! One thing to reduce financial worriesThose annoying bills!

During this information age, banking can easily complicate our financial situation because we never know where the money is coming from for that next big bill that’s coming up. With the amount of consumerism in the developed economy, it’s easy to get caught in a web of recurring expenses and wondering how to reduce financial worries.

Eleven months ago, it got pretty annoying when an unexpected and really important bill showed up in the mail that I had forgotten about. I used to wing it hoping I could find some money in an account, whatever happened, I survived.

I knew it wasn’t sustainable. Sometimes a bill would be overdue and it would be a real pain to get it reinstated with the bonus penalty attached to it. It sucked feeling helpless while sacrificing that family trip I’d been saving up for.

When I finally had enough of this “we’ll always have the money” sense of overconfidence, I knew it was time to make a change. I implemented the critical first step that reinforced the shaky foundation of my financial house, and it became one of the most successful components of this system that stabilized my financial future.

It is so successful that I no longer sweat about big bills when they arrive. It’s a simple and easy concept that doesn’t cost very much. In fact, it’s so simple and critical that it would be an injustice if I don’t share it with you.

As Simple as Elementary School Math.

as simple as elementary math

All you got to do is tally up all the bills that you receive once a year such as insurance, taxes, community fees, subscriptions, etc.  It’s a time consuming process to getting it started, but once it’s done initially, it only requires minor tweaks here and there over time.

Annual Bills account demo

There are two tips for this exercise: one, use a spreadsheet. Two, create a fake bill to counter unexpected inflation (I called it “buffer zone”) then choose a number between $50 to $120 to round out the final number to a multiple of 10.

Take the total amount of the annual tally, divide it by 52 (the number of weeks in a year), and you get a number. That number is your “annual contribution” number.

The next step is to create a bank account and call it “Annuals” or whatever you’d prefer to call your annual bills. Then set up an automatic weekly transfer of your “annual contribution” number into your “Annuals” account from your main account.

After a year of implementing it, you will always have the money for that surprising bill (usually at that point, it’s not much of a surprise).  It’s such an incredible relief having financial stability that can be counted on.

Just a Single Piece of the Financial Puzzle.

financial piece of the puzzle

The “Annuals” account I created lifted a ton off financial stress off of my shoulders. It was only the first step I took towards this incredible financial system I learned at the “Answer to Everything” event.  Once I fully implemented this entire system, I gained so much certainty about my financial future that money is no longer a stress factor.

Email this to someoneShare on Facebook0Tweet about this on TwitterShare on Google+0Pin on Pinterest0Share on StumbleUpon0Print this page
Do You Love it? Do You Love Others? If You Care, Please Share!

2 Responses to One Simple Thing You Can Do To Reduce Financial Worries

  1. Kyle McNeil says:

    Hi Yanny!

    I’ve found a VERY similar thing. It’s incredible how such a simple thing can make such a significant difference!

  2. Jennifer says:

    Yanny!
    I’m so grateful for you having invited me to attend that event with you. It was life transforming.
    Thank you!

Leave a Reply

Your email address will not be published. Required fields are marked *

Unable to load the Are You a Human PlayThru™. Please contact the site owner to report the problem.