5 Overlooked Expenses That Can Destroy Your Budget
By Shondell Varcianna
February 19, 2016
Lifestyle
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Drafting a perfect budget is only half the battle if you want to keep your spending in check. Often times we underestimate expenses or forget about things that needed to be added to particular months.
Overlooked expenses can be real budget killers and add a lot of unwanted stress to our lives. Let’s take a look at 5 of the most common expenses that we often overlook when we are creating our monthly budgets.
1. Pet care
The price of food, toys, scheduled and unexpected vet visits as well as things like heart-worm and flea preventatives can be costly. Food and daily medication can be added to your monthly budget easily, but it is the unexpected things that hurt you. If your dog is ill or hurt, unexpected vet bills can be a budget killer. It is always smart to overestimate expenses when it comes to your pets care.
2. Irregular expenses
If you have bills that are paid quarterly or semi-annually, they can be easily forgotten because of the odd time they are due. As a result they may be left off the monthly budget that they are due in. As a reminder mark the payments on a calendar and keep the calendar handy to remind you to save extra money that month, or set yourself a reminder on your phone so you don’t forget. Don’t let these expenses sneak up on you.
3. Special events
Special events such as weddings, baby showers, dinners and birthday parties can throw a budget completely out of whack. It is a good idea to keep extra funds tucked away just for these special events.
4. Extracurricular activities
Your children’s extracurricular activities can often throw a wrench into your budget. Does your son need new cleats or is your daughter’s dance class tuition due? There is also Boy Scouts or Girl Scouts or needed money for a school trip. You can consider putting money aside each month for 3-4 months leading up to when these expenses are due.
5. Varying utility bills
Sometimes it can be difficult to estimate your utility bills, especially when some winters are colder than others and some summers are hotter than others. Always over estimate these bills, especially in the winter, when heat is a must. In the summer, you can get away with turning off the AC by opening the windows or turning on the fan, which will definitely help in controlling the bill in the summer.
Budgets can become overwhelming sometimes when things are unexpected, but making an effort to over estimate and creating an emergency fund can definitely help with those unexpected bills. You’ll also be surprised how often you’ll be able to keep to your budget when things are planned.
The key to the perfect budget is ensuring that you are aware of the chances of unexpected expenses and that you put away funds as a precaution. With the extra funds already put away, you can keep to your budget and the added stress unexpected expenses bring.
Picture by Got Credit
Overlooked expenses can be real budget killers and add a lot of unwanted stress to our lives. Let’s take a look at 5 of the most common expenses that we often overlook when we are creating our monthly budgets.
1. Pet care
The price of food, toys, scheduled and unexpected vet visits as well as things like heart-worm and flea preventatives can be costly. Food and daily medication can be added to your monthly budget easily, but it is the unexpected things that hurt you. If your dog is ill or hurt, unexpected vet bills can be a budget killer. It is always smart to overestimate expenses when it comes to your pets care.
2. Irregular expenses
If you have bills that are paid quarterly or semi-annually, they can be easily forgotten because of the odd time they are due. As a result they may be left off the monthly budget that they are due in. As a reminder mark the payments on a calendar and keep the calendar handy to remind you to save extra money that month, or set yourself a reminder on your phone so you don’t forget. Don’t let these expenses sneak up on you.
3. Special events
Special events such as weddings, baby showers, dinners and birthday parties can throw a budget completely out of whack. It is a good idea to keep extra funds tucked away just for these special events.
4. Extracurricular activities
Your children’s extracurricular activities can often throw a wrench into your budget. Does your son need new cleats or is your daughter’s dance class tuition due? There is also Boy Scouts or Girl Scouts or needed money for a school trip. You can consider putting money aside each month for 3-4 months leading up to when these expenses are due.
5. Varying utility bills
Sometimes it can be difficult to estimate your utility bills, especially when some winters are colder than others and some summers are hotter than others. Always over estimate these bills, especially in the winter, when heat is a must. In the summer, you can get away with turning off the AC by opening the windows or turning on the fan, which will definitely help in controlling the bill in the summer.
Budgets can become overwhelming sometimes when things are unexpected, but making an effort to over estimate and creating an emergency fund can definitely help with those unexpected bills. You’ll also be surprised how often you’ll be able to keep to your budget when things are planned.
The key to the perfect budget is ensuring that you are aware of the chances of unexpected expenses and that you put away funds as a precaution. With the extra funds already put away, you can keep to your budget and the added stress unexpected expenses bring.
Picture by Got Credit