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Starting a freedom account...again

November 24th, 2009 at 02:41 pm

I had a freedom account established a few years ago, and though it didn't lost long, I liked having it. We're expecting a large reimbursement check within the month that will take care of Christmas plus a good amount to start up a FA. I've been brainstorming categories I need it for today and estimated $1000 for misc. for the year. I wonder, should clothes and home improvement monies be accounted for in a FA or in some other way? We've scrimped for so long, we've never had money for either category and bought only when necessary and then only very cheap.

2 Responses to “Starting a freedom account...again”

  1. campfrugal Says:

    You should use your FA for whatever reasons you want. Here is a great link:

    http://www.mdmproofing.com/iym/freedom.html

  2. creditcardfree Says:

    We use ours for auto insurance, auto registrations, an annual gym membership, and life insurance. We now have a second account to hold our homeowner's insurance and property taxes.

    I agree with campfrugal to use it for whatever works for you. I would start slow however. Two many categories can be overwhelming in the beginning.

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