How do you manage annual fixed costs?
For example, annual vehicle tax and insurance can easily add up to €1,500-2,000. Does it make sense to invest this in an ETF (or other) and then withdraw it at the end of the year? Or should I forgo depositing it into my account the month the payments are due and pay it with the money I have left?
Or completely different?
(1 votes)
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ETFs are unsuitable for short time windows and fixed dates where a fixed amount must be available.
For this, there is no meaningful alternative to the daily money account and one day before the booking you book the money over to the current account.
For me, the motto has always been: Pay yourself first.
The standard of living and the costs come after saving, not before. For example, if I have 2,000,- € net and would like to save 200,- € in the ETF, the rest in total has no more than 1,800,- € to make out.
That would be completely wrong.
Money that is to be available at short notice and on time are NOT in volatile papers.- NIEMALS!
A simple second current account is well suited for this. – Interests may be neglected. – Where you get a good interest in the daily money account. ;
Money for current expenditure should be kept in stock on “run” accounts (Giro account).
ETFs are useful for long-term investment, pensions for example. A daily money account is recommended for annual fixed costs.