Financial commitments
What are financial commitments and why should I track them?
Financial commitments are pledges to meet certain expenses in the future. Commitments can include rent, utilities, or insurance policies. Understanding your financial commitments enables you to better plan, budget, and succeed in the future.
In order to plan for your regular financial commitments, we recommend your first step to be identifying all of your financial commitments, then save the dates of these payments, then calculate the cost, followed by setting aside funds, and finally pay on time.
Examples of Financial Commitments:
- Rent
- Utilities
- Insurance
- Mobile Phone
- Student Loans
- Mortgage
- Subscriptions (Netflix, Gym, etc.)