10 Things Missing from Your Budget

Savings Angel

This article, entitled "10 Things Missing from Your Budget," comes from SavingsAngel.com.

So many of you spend hours creating what seems to be the perfect budget and then two weeks into the month: wham! Something pops up that throws off all your numbers. You get frustrated and want to give up. I don’t blame you!

The problem is many people budget only for those predictable monthly bills and then plan to take the unexpected or irregular bills out of savings. But that’s not how it should work. Your savings should not be raided for items you know will crop up at some point.

Help get your budget in shape by planning for these expenses.

Insurance

If you pay your auto insurance monthly or if your homeowners insurance comes out of your mortgage escrow, you’re probably already budgeting for these. If not, you need to get be setting aside money every month. There’s absolutely no reason to be surprised by a quarterly insurance bill that arrives like clockwork every three months.

Memberships, subscriptions and camps

You also need to be saving up for all those one-time fees you pay throughout the year. Do some brainstorming and add up everything you pay annually from golf packages to magazine subscriptions to sports camps for the kids. Round up, divide by 12 and put that much aside each month to pay for these expenses.

Pet expenses

Fido and Fifi can be expensive. Not only can food and flea protection add up, don’t forget about annual vet visits and licensing. In some areas, you can spend up to $50 just by walking into the veterinarian’s door. If your pet should become ill or injured, be prepared for sticker shock. All I can say is budget for your pets my friends!

Taxes

The taxman cometh, and you’d better be ready to pay. Property taxes on homes may be charged twice a year, and business owners should be making quarterly income tax payments to state and federal governments. That goes even for small hobby businesses. It can sometimes be a surprise for those signed up for a direct sales company to get a 1099 form at the end of the year. You’ll be even more shocked to learn those “free incentives” the company gave you are taxable too.

Gifts

Christmas seems to be on most everyone’s radar screens, even though most don’t start saving for it until Thanksgiving. However, December isn’t the only time you spend money on gifts. You have birthdays, anniversaries, weddings, open houses and more to buy for. Add everything up, roll in your expected Christmas spending, and save that entire amount up over the course of a year.

Eating out

Yes, I know. That McDonald’s drive thru run yesterday was the last time you’re eating out this month. You’re sure of it, right? Well, I’m sure you’ll be tempted to eat out again and by failing to plan for it, you’re going to blow your budget. Don’t lump eating out with groceries either. It needs to have its own category.

Clothes

If you’re not a clothes horse, you might not spend a lot on what you wear but you still need to budget for it. Even the person with the most minimalist wardrobe will need new underwear eventually – and I’m guessing they won’t want to get those from the thrift store.

House and car maintenance

You may have a brand new car, but it’s still going to need its oil changed and tires rotated on a regular basis. Your house will need new furnace filters, and the lawn should probably be mowed at least a couple times a month. Budget for regular maintenance and then pad the account so you’re ready for the day when the roof starts leaking or the brakes begin to go.

Vehicle registration

Every year, the state might send you a special birthday reminder with a request you pay up for new license plate tabs. Depending on your vehicle, the cost could range from the price of a family dinner in your favorite restaurant to several hundred dollars. Either way, plan for it in your budget.

Your guilty pleasure

Finally, you get to fill in the blank for this last one. What it is you love to buy but know you shouldn’t? It could be a morning latte or the latest movie releases. Maybe it’s golf on Sunday or chocolate and wine on Friday night. Whatever it is, you probably don’t budget for it because you do feel guilty. It’s something you like, but you don’t feel you should spend money on it. I say: let go of the guilt (if you can afford it) but only if you put it in the budget.

The best couponers save hundreds of dollars every month at the grocery store. However, extreme couponers can end up living very extreme lifestyles to get those savings. For over five years, SavingsAngel.com has equalized the playing field – giving extreme savings to busy families who don’t have the time or ability to be an extreme couponer. Each week, SavingsAngel.com’s over 70 angels combine over 2,000 products on sale at local grocery and drug stores with an enormous database of over 2000 different manufacturer coupons. These combinations result in our members getting access to over 300 products each week for 50% off or better. Simply log in, choose the deals you want, print or clip only the coupons you need, and save hundreds of dollars a month at regional and national stores. Our angels will personally work with you to craft a plan that will help you buy healthier food at lower prices – helping you keep $200 to $400 in savings each month.

Josh Elledge is chief executive "Angel" of SavingsAngel.com, a website that teaches consumers how to save money through a free money savings video eCourse and podcast. SavingsAngel also provides hundreds of 50% off or better deals each week to members by matching local grocery and drug store sales with its free database of over 5,000 accessible coupons. A husband and father of three, he now appears each week on television, in eight newspapers, and a number of radio stations across the country teaching families how to cut their grocery bill in half using the Internet. Elledge created the technology found on SavingsAngel.com through the need to save his own family’s money. Successfully able to cut his own grocery bill from $600 a month to less than $300 a month, his message has reached hundreds of thousands of families. SavingsAngel.com is now growing rapidly throughout the country. You can watch a short video at SavingsAngel.com that will explain more information about how to cut your own grocery bill in half with the help of SavingsAngel.com!

 



Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus