Gain
Control of your finances
The Your Personal CFOToday Debt Mastery Program's secret weapon in gaining control of your personal finances: the overhead account.
Most people don't realize it, but one of the biggest obstacles that stands between their getting out of debt is the lack of a plan for non-monthly expenditures.
That's right. We know we take in X dollars each month. Plans for those dollars are already committed for general overhead such as mortgage payments, automobile loans, utilities, etc.
That means that when the non-monthly expenses arrive, they are a surprise! There is no money left. So what do we do? Borrow payments, or even worse-default to the credit cards!
The types of expenses that get us into trouble include Christmas, home or auto repairs and maintenance, vacation expenses, quarterly or annual insurance payments, and taxes.
Some people would call these "emergencies." Yet, you can see that these unplanned expenditures are nothing more than expenditures which have not been accounted for in a business like manner.