Bills that only occur once a year can completely mess up your budget if you have a budget that does not have much budget flexibility. For those of us that do have wiggle room built into their budget, it is still an annoyance to get hit with some subscription or charge that you have completely forgotten about.
My budget was dinged with a subscription fee that I had forgotten about and this one has put me over the edge. Granted it was only a $30 charge, but it was the straw that broke the camel’s back.
I have a decent sized list of yearly charges that are a constant source of annoyance to me because I can never remember exactly when I will be billed. I have a general though of “It seems like it is about time to pay for my basketball season tickets.” Of course, this thought last for 1-3 months before the bill actually arrives. Here is a list of my once a year bills. (If I can remember them all.)
- Magazine Subscriptions $30
- Consumer Reports Subscription $30
- College Athletics Donation $155
- College Basketball Season Tickets $255
- Car Tag $1xx
- Termite Warranty for house $160
- Veterinary Appointments $50-130
- Flea, tick, heartworm treatment (every six months) $250
Right now, I can think of those infrequent bills, I am sure I missed some of them. So, as I said before I have had with being “surprised” (forgetting) about these bills. I know it is completely my fault due to poor planing. What am I going to do about it?
Google Calendar to Keep Track of Yearly Bills
I am going to use Google Calendar to remind me of my irregular bills because it is free and I already have a Google email account. It is just a matter of adding all of my information to Google Calendar.
One approach that can work for covering in a budget these annual and semi-annual (I call them “periodic”) expenses is to designate for them the two “extra” paychecks per year some of us get. If you’re paid every other week, two months a year you get three paychecks. Bank these extra checks in a “periodic expenses” fund, then use that money to pay expenses like those you list that happen once or twice a year.
The ones we have are our annual life insurance payments and HOA dues. We pay all of these annually to get a discount. It used to sneak up on me, but I have been transferring money each month into an account so it won’t be a hit anymore when they show up.
That’s a pretty good idea – I hate keeping track of these. I get the bills as a complete surprise because I forgot about them, and it’s pretty bad for the budget.