Even though I know enough to plan for it by now, the end of each year is one of the toughest times cash flow wise. It isn't because we go all out for Christmas gifts, it is because of the large expenses lurking around the corner in the first week of 2010.
My licencing fee renewal just got here. For me to continue working legally, I need to pay this. This year, it will cost me $850, due in one lump sum on Jan 1/2010. I can pay it in 2 installments, six months apart for $450 each. I have refused to pay the $50 premium for this service.
When this bill comes, I then get reminded of my liability insurance notice. It will likely grace my mailbox in the next couple of weeks. Last year, it cost me $1200. If I do the upgrades that I'm thinking of, the price will be in the range of $1550 also due Jan 1/2010. There is a 4% premium should I wish to pay this in any other way than lump sum. I hate being charged extra so I too pay it all at once.
I pay my association dues monthly as there is no penalty to do so. It is about $1000/yr. These three expenses make up the core of my mandatory business expenses. And I haven't made a penny yet!
I remember this being overwhelming when I first started out because I felt already behind and real life ie. rent, car payments, food, telephone, savings, student loan repayment etc. etc. hadn't happened yet.
It is just part of doing business now and once a year, I think about it. There used to be a fourth line item called disability insurance and I got rid of it once I realized the plan doesn't cover part time work very well. (remember I got to test that out when I broke my wrist learning to figure skate a couple of years ago...)
So anyways, with us going over budget on the visa for Nov. and all these bills coming in, and not having access to my 2nd pay cheque in Dec (because we head out west mid Dec) means I have to make everything happen with what will be coming in for Nov. and the first half of Dec. It is making me juggle!