We started our Freedom Account YAY!!!

Ok so, we have our goal of $1000 in our emergency fund, now it is time for us to start our Freedom Account for all of those irregular expenses as well as start paying down/off our debt. I am putting in $180 (Canadian dollars) a month divided up into categories so that we hopefully do not have to touch the emergency fund. These are for expenses that we know will eventually come our way whether it be once,twice,three times, etc a year. We had a few extra $ to put in there so it is a bit over what we have allotted.

Because We are starting this late in the year we will probably not have enough once the actual expense comes up but the good news is that we won't have to come up with the whole lump sum at one time because we will have a portion of the $ in that category which is with our Ing account.

Here are our categories and the amount of $ going in each month

1) Home and Auto: $55
(2) Medical and dental: $35
(3) Gifts and Vacation: $55
(4) Kids: $35

Here is what we have in there right now as of today and a break down for what each category will be used for :


(1) House and Auto ( this covers repairs, wood, snowplow as we live on a snowbelt and can't keep up with shoveling durring the winter months, liscense and Registration fees). : $91.68

(2) Medical and Dental (covers eye glasses, unexpected medication, dental visits, etc..) : $65.36

(3) Kids Account (covers school registration, book fee's, sports or leisure).
: $45.11

(4) Gifts and Vacation : $65.43 (for all gifts throughout the year whether it be for Holidays or Birthdays etc...wanted to add that I don't think that we will be going on a vacation anytime soon, it just felt good to type Vacation in there lol )