Why Budgeting Isn’t Working For Widows

One of the big reasons I see that people struggle to live on a budget or keep an emergency fund is because they are not planning for annual expenses. They consider regular monthly expenses in their budget but forget about the annual life insurance bill or the home and car maintenance. In this episode, I talk about how sinking funds or annual funds can help create a more realistic budget or spending plan. Many of these expenses are predictable and should be planned in your monthly spending allowance.

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