Asked 3w ago
Contemplating if a secondary savings account is required for insurance payment.
My answer to this question would be,
How organised are you in your spending? How much mental note do you wish to use?
For me, I use credit cards to pay off my insurance payment. If there is no choice, then giro. Having a spending and saving account definitely helps because you can do expense tracking.
Shameless plug here, my founders and i did a Youtube channel for basic personal finance using our own situation as an examples. Context is important though so I hope you can take away what is useful for yourself with regards to our content. https://www.youtube.com/channel/UCf3wSrN9d0qHnFEaoJ3suEg
Hey there! You might want to convert your payments to annual payment if you have the budget for it since usually premiums paid in installments are generally a bit more expensive due to interest. But yes it is good to comparmentalize your savings and expenses to keep track!
Financial planning is an integral part of life. You can reach me here to find out more.
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