FMOOD 0097: Create a Waiting List - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.
from 2017-03-23T06:00
A waiting list is simply a list of upcoming expenses that you are keeping on the radar so that you don't forget about them. It's similar to a sinking fund but considerably different because you aren't saving money just yet.
Instead, you are making a list of upcoming expenses that may be categorized similar to how you categorize your budget. Perhaps you have an upcoming vehicle repair that doesn't have to be done right away, but you will have to take care of the repair in the near future. You don't have to put money aside just yet, but eventually you will need to save up for this upcoming expense. The waiting list is a simple way of keeping these items in mind as you continue to work with your budget until the time comes to actually move the noted expense from the waiting list to its appropriate line item in the budget.
Some other examples of items that you may consider putting on your waiting list might be an upcoming vacation, winter tires, or home improvements. All of these items are easy to estimate the cost even though they may not need to be put into the budget until later. You can prioritize your waiting list based on needs and wants, and order the items on the waiting list accordingly as to when they will make their way to your actual budget. Having a waiting list helps to keep things in mind and on track, and it helps you to stay on point with your budget as well.
The best compliment that I can receive from you for this show is for you to subscribe to the show, rate the show, and leave a kind review for the show on iTunes or Stitcher Radio. It really helps to get the show in front of others so that they too can get out of debt and get into prosperity.
I'm also on various social media outlets if you'd like to join me on:
Twitter: @fmoodpodcast
Facebook: http://facebook.com/followmeoutofdebt
Pinterest: https://www.pinterest.com/fmoodpodcast
Further episodes of Follow Me out of Debt | Get out of debt and get into prosperity!
Further podcasts by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.