
Photo by Karolina Grabowska
This used to be my favorite time of year because I was preparing to get a large tax refund. Now that my kids are grown, it’s not so fun because those big refunds are gone. This year I there’s a $3 difference between the small amount I owe to the Feds and the small amount Kentucky is giving back to me. I know, I know, this is what all the money experts say I should have been aiming for all along. Don’t want to give the government a tax free loan, right??
Here’s the thing, I liked knowing a big refund was coming in because I earmarked that money for some annual expenses I owed at the beginning of the year like my life insurance premium, car tags and vacations.
So what do I do now that I still have those expenses and my now grown man-children are no longer financial benefits to me? (I still love you boys!) Sinking funds are my favorite tool now to save for these random expenses. Continue reading