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Old 02-25-2002, 06:31 AM
aubry's Avatar
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Location: NewYork
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Freedom Acounts? Anyone?

We opened a freedom account in Dec. and I think it is a great idea! For those that may not know what it is. it is an account for those expected, unexpected expenses. Things you know you have too spend money on but aren't necessarily built inot your budget ex: car inspection, car problems, gifts etc. We oftentime call these unexpected expenses, but they aren't really. You know they will be comming up. The proper way too do a freedom account is too add up approx. what you spend a year on these things divide by 12 and monthy put in what you need. We can't afford too do that so right now we do 15 a week and it adds up amazingly fast! My car needed inspected last month and it was nice knowing the money was there. I didn't have too take it out of the main checking or dive into my savings. I was able too use the fredom account.
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Old 02-25-2002, 08:52 AM
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We just keep all extra money in a savings account.

I have started to put aside a set amount of money each paycheck and place that into the account. It is nice to see it build up.

Hopefully there won't be a need to touch it for a long long time.
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Old 02-25-2002, 07:43 PM
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We have been wanting to do this but right now every extra dime seems to go toward paying off credit card debt and building up an emergency savings.
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