Last year was the first time that I made a significant amount of money from writing, freelancing, and my blog Frugal Confessions. What an exciting milestone in my life!
Even though I wholeheartedly have planned out the next 40 years of my life financially speaking, for some reason I never opened up a side account to stash away the taxes I would need to pay at the end of the year. I also did not pay my quarterly tax estimates.
Because of the anxiety I felt leading up to filing my taxes, I have learned my lesson and have now opened up a separate account to stash away a percentage of my side income for tax payments. But the experience left me wondering: what if I had owed several thousand dollars and could not afford to pay it all at once?
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