Sometimes, a big bill gets the drop on you, and all your careful planning and budgeting can’t compensate.
These expenses might feel like they’ve crept up out of nowhere, but in reality, you’ve probably known they were coming for a long time. That’s why making a big bill calendar is smart — you’ll stop yourself from needing to lean on credit when those big expenses come up. And when you plan ahead, you’ll have plenty of time to save for them, too.
What’s included in a big bill calendar?
A big bill calendar is simply a list of essential-yet-infrequent expenses, mapped out across the year. Instead of focusing only on what’s due this month, it zooms out to show what’s coming over the next 12 months.
If you’ve ever had an expensive tax bill, paid for back-to-school costs or bought Christmas gifts, you know that these irregular expenses can stress your budget (and even land you in debt).
Common Annual Expenses:
- Car insurance premiums
- Taxes
- Medical procedures
- Holiday and gift spending
- Back-to-school expenses
- Memberships and annual subscriptions
- Car registration, repairs and maintenance
Your list can be as specific or general as needed — and could even include events that you’d like to save up for, like a vacation or special occasion. What matters most is that you’ve laid out what needs your resources, and when. Now, you’re ready to make a plan.
How to use your big bill calendar
Step 1: Look back at last year’s major one-time expenses
Scan your bank statements or credit card history for large, non-monthly charges that you expect to pay again this year, Write down how much that bill was, and an estimate of what it’ll be this year.
Step 2: For new, upcoming expenses, estimate realistic amounts
If you’re unsure of the exact cost, project a cost that’s a bit more than you’d expect. That way, when it’s time to pay, you might find yourself with a little extra money left over.
Step 3: Start budgeting
For each bill, divide the total cost the the number of months between now and then. Add those individual “payments” up, and you’ll have your monthly savings goal.
Extra credit: Park your savings in a high-yield account
A surefire way to make your money work harder for you is to leave it in an account that accumulates interest. Look for accounts that allow you to withdraw when you need to, without a minimum necessary balance. As you save and deposit into your account, your money will grow automatically. (And that means you can offset your bills with funds that grow on their own!)
You can make some bills more affordable — but what about your debt payments?
If you’re looking to plan ahead but can’t because of expensive debt payments, Accredited Debt Relief may be able to help. We could save you 40% or more on eligible monthly bills — and help you get debt-free in as little as 24-48 months.