Usually in January, most of us have to pay a lumpsum amounts for Insurance, PPF etc. If you are like me, I never have that the kind of money at that point in time. Because, guess what..I have spent it. Money never link of lies in my account. Its always working its ass off.
Anyways, to mitigate my situation, what I do is open a recurring account at the start of year. For eg, If I have to pay Rs 50,000 in January next year, I open a recurring account for Rs 4200 for 12 months.
This has 2 benefits. First It gets me to set aside some money every month. Second, I don't have to sweat it out at the end of year trying to figure out where will I get the money from.
