What Action Should A Person Take Who Must Make A Tuition Payment At The End Of August Each Year?

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What Action Should A Person Take Who Must Make A Tuition Payment At The End Of August Each Year?

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A: Decide how much money will be needed and then place 1/12th of that amount in a separate account each month. Reason : This is an example of ?pay yourself first.? The best way to save in order to make a yearly purchase, in this case a tuition payment, is to immediately deposit a portion of the payment in a form of savings account (so it can earn interest throughout the year) as soon as the person is paid each payroll period.

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