You have looked at your income, worked out all your outgoings and carefully compiled a budget that gives you a very clear idea of exactly how much disposable income you have left each month. There is just one problem – you are just halfway through the month and already your careful budget planning seems to have let you down.
If you feel like you want to give up and might as well not bother with a budget then you are certainly not alone. This is quite a common occurrence for a lot of people. The chances are that you have overlooked items in your budget, not payments for emergencies such as your boiler breaking, but those smaller things that can really mount up if you are not keeping a very careful eye on things. Here are just 10 of the things that you might not have budgeted for.
It can be easy to let birthdays and other special occasions slip your mind when you write your budget after all some months there may not actually be any that you need to buy presents for. However, all it takes is a couple of these and your extra money can vanish before you know it.
Unfortunately, you can’t predict when your car will need a repair. So, if something unexpected happenes that can really eat into your budget. It can be a good idea to put a small amount aside each month to help in the event of this happening.
3.Medical related bills
Prescriptions from the GP and dentists’ appointments are not cheap, if you forgot to factor something into your budget for these then you might find yourself short at the end of a month if you have had appointments with either.
A drink with friends, a coffee out these might only be small amounts, but they can add up very quickly. Consider adding an entertainment amount into your budget.
It can be easy to forget about memberships, especially when they come out of your account directly and on an annual basis rather than monthly.
If you have children, you will know just how suddenly they can shoot up and need the next size in clothing or shoes. It can be a good idea to add a little to your monthly budget to cover any incidental clothing you or your children might need.
You might not need haircuts every month but if you have shorter hair in order to keep it looking its best you will want to budget for regular trims.
As with cars it is never possible to predict when something in the home will break and need fixing, and quite often more than one thing can go at once leading to a very expensive month.
We are not talking about the cost of replacing appliances here but rather unexpected repair bills if something goes wrong with your washing machine – something few of us can do without. Call out fees and parts can be costly.
Little things like treats for Halloween, Christmas cards and wrapping paper – these can all creep up on you leaving you wondering where your money went.