This article discusses expenses that typically get left out of a person’s typical budget and are important to plan for. This article may contain affiliate links, for more information please see my disclosure policy.
Budgets are great for keeping your spending in line, but when too many unexpected expenses start popping up, it can be really hard to stick to your budget. The best way to be prepared is to include these expenses when you create your budget. Here are 10 expenses that you might be forgetting about in your budget!
1.Car Repairs and Maintenance
Your budget probably already contains allotments for gas and maybe even oil changes, but are you prepared if your car needs a larger repair or new tires. My car is covered under warranty for another year but I have still started to put aside a little each month to save for future repairs. For an older car you might want to plan to set aside more.
2.Car Registrations and Licenses
Depending on what state you live in, car registration fees can vary from a couple bucks to hundreds of dollars (I was shocked when I moved to Minnesota and had to pay $550 to register my fiance’s truck and my car). Having money ready for this necessary expense can save you from having to scramble to come up with it all at once.
3.Annual Subscriptions and Bills
I always forget amount my annual subscriptions until they hit my billing account and I have to scramble to move in money from savings to cover it. Some examples of annual subscriptions you might have are Amazon Prime, Costco, magazines, credit card fees, and sewer/trash/etc bills.
4.Weddings and Visiting Friends
I was shocked when I added up our expenses to attend my fiance’s sister’s wedding. Between flights, hotels, rental car, and food we spent over $1200. Weddings or trips to see friends can completely derail your budget. To alleviate the stress of paying for trips, you can put aside some money each month.
Most people don’t plan money for birthday gifts, and have to steal from other parts of their budgets to scramble for money. Setting aside $30 a month covers a card and a present/gift card and doesn’t take away from fun money.
6.Vet Visits for Pets
Pets definitely need their own portion of your budget especially for monthly expenses such as food, grooming, litter, toys, and monthly medicines, but make sure you also plan money for their vet visits. Animals typically need to go once a year for shots which can run about $100. It can also be good to allot money for other visits; one trip to the emergency vet can cost hundreds or thousands.
Whether it’s your neighbor’s little league team, an animal shelter or any other kind of charity, most people donate throughout the year. You might not donate money directly but your donation will still most likely require some kind of spending. Now that I have setup a separate donation category in my budget, I find myself doing even more charity work
8.Special Occasion Clothes
I will never forget, the night before we flew out for his sister’s wedding, my fiance was trying every trick in the book to squeeze into his 5 year old suit that was now 2 sizes too small. He ended up running out the next day to buy a new suit to the tune of $150 that we were not planning on spending. Occasionally it is necessary to buy clothes that might not fit within your normal clothes budget; examples include, winter coats, snow boots, suits, bridesmaids dresses, and work clothes for a new job.
Everybody gets them, but it seems that nobody is really budgeting for them. You most likely get a haircut every 4-8 weeks and they can cost anywhere from $20-$100+. That’s a lot of money to forget about putting in your budget.
Maybe you got asked to host family Thanksgiving this year, or a kids birthday party, either way you will most likely be spending some extra money on the event. Costs can include, food, decorations, goody bags, extra help, and rental supplies.
Leave a comment letting me know some other expenses that you plan for that people might be forgetting about on their budgets!
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