Update: I finally got a handle on my quarterly taxes after messing them up twice.

I was always scrambling for cash every April and September, which was a huge stress. I started putting 30% of every single payment into a separate savings account the day it hits my bank. Has anyone else found a different percentage that works better for their specific business setup?

3 comments

3 Comments

henrycooper13d ago

I used to think 25% was enough until I got a surprise bill last year. The 30% rule you mentioned is what finally got me ahead of the game. It feels good to not be surprised anymore.

holly_walker7612d ago

Totally get that. Used to budget 20% for home repairs and it bit me hard. That one winter the furnace died and the water heater leaked in the same month. Bumping it up to 30% was a game changer. Now those random things don't wreck the whole plan.

troy8326d ago

Honestly that line about things not wrecking the whole plan is so true. I read this article a while back that said most people way under save for home stuff because they just think about small fixes. Ngl, it really hit home when they pointed out that big systems like a roof or HVAC all fail around the same time. Bumping up the budget is the only way to actually sleep at night. Tbh it feels less like a budget and more like buying some peace of mind.