Payroll deductions for health care, dental and vision coverage.In the case of health care, waste it can be as simple as choosing a name brand drug over a generic drug. One benefit of having a budget and tracking your expenditures each month is that you will more easily be able to recognize where you’re wasting money. Health care expenses are important to track because believe it or not, it’s possible to waste money in the area of health care just as it is with any other category. However you choose to categorize them is up to you, of course just be sure you’re including them in your monthly expenses when working with a budget. House payments or home equity loan payments.Others find it more helpful to keep ongoing, monthly debt obligations in a separate category. Some people like to break debt payment obligations down into the individual categories they relate to, such as putting your car payment into the “transportation” category. I don’t add expenses such as health care expenses in this category we’ll talk about those in another category. New toys that aren’t gifts for a birthday or other holiday.Extracurricular expenses such as hockey or dance.ChildcareĬhild related expenses can include anything related to the care of your child that’s not a part of your health care expenses, which I recommend tracking separately. In those cases, we add restaurant trips into our food category. We put restaurant trips in the entertainment category unless we go purely for the reason that we need to eat and aren’t near home. You may do things differently, but some people also add restaurant trips in this category. Food costs associated with work, such as lunches, coffees, etc.Money spent on school meals for your kids.Foodįood expenses can include any costs you spend on eating, such as: One good way to prepare for larger costs such as a new furnace would be to have a special savings account where you put money aside each month that is specifically designated for large home repairs in the future. Some of these types of costs may fluctuate each month so you’ll need to keep that in mind when you create a monthly budget. Property tax payments (unless they’re collected with your house payment).Repair costs such as a need for a new vacuum, furnace, flooring, etc.Maintenance costs such as landscaping, replacement light bulbs, etc.
That kid birthday party we were invited to? Well, we ended up gifting something that we already had at home to stop us from going over budget.
EXAMPLES OF MONTHLY EXPENSES PROFESSIONAL
Professional Licenses and Memberships not reimbursed by work.48 Unexpected Expensesĭid you make a budget this month? I hope so! Here are 48 unexpected expenses you might have forgotten. Include this list of unexpected expenses in your budget this month. But that’s still no reason to leave them out of your budget.
You might simply forget about them, or it may be hard to predict the cost. I hope this list will save you some of the frustration that comes along with going over budget due to unexpected expenses! Many of these are things you pay only once a year, or every few years, or things that are somewhat unpredictable. Along the way I kept track of all the different unexpected expenses, so I could plan ahead and include them in my budget.
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