Whether you’re new on the budget scene or have some experience under your belt, everyone has to deal with unexpected expenses at some point. The more thought you put into your budget and in identifying as many unplanned for expenses that could pop up as possible, the less stress you’ll be under when it comes to paying for them.
Here are some of those possible expenses that are often forgotten about until it’s time to pay for them.
Regular car maintenance
Most people are quick to list “gas” as one of their most common expenses, but what about necessary routine maintenance for your car? Some other car-related expenses you should probably include are:
- Oil changes
- Seasonal tune-ups
- Car washing and detailing
Another common expense that slips people’s minds is lawn and landscape care, probably because these expenses seem to be seasonal. The needs for your yard are obviously specific to your preferences and also your geographic location, but may include:
- Grass Seed
- Gardening tools
- Seeds, bulbs
- Equipment and equipment maintenance
Oh, what a long and vast list this could be. From little league fees to field trips dues, kids seem to be a never-ending source of surprise expenses for their parents. Don’t get blindsided by your kids unexpected fees again, by including these expenses in your budget:
- School pictures
- Kids summer camps, sports, etc.
- School registration, yearbook, and other beginning/end of year fees
- Clothing/shoes for random growth spurts
Many people are surprised when they have a dental emergency and find out that dental work is not covered by their health insurance, but requires a separate insurance policy of its own. Many people forego dental insurance altogether because they seldom require dental care other than usual checkups, which sometimes cost less than insurance. But when an emergency does happen, you can expect the bill to be substantial.
Simply filling a cavity can cost you hundreds of dollars, and more extensive procedures can put you into the thousands. Make sure you have a line in your monthly budget to set aside funds for dental work. Even if it goes untouched for the year other than checkups, you will be incredibly happy when an emergency does occur and you don’t have to go into debt or suffer for it.
Budgeting for birthdays and Christmas presents is common, but what about other situations that require gift-giving throughout the year? You never know how many of your friends or family members decide this is the year to add a baby to the family, and those baby shower gifts start adding up. Here are some non-holiday gifting situations you may consider adding to your budget:
- Baby showers
- Birthdays of kids’ friends, extended family members, etc.
- Housewarming parties
- Anniversary parties
Lastly, it’s a good idea to have a fund available for your phone or computer should yours break and need replacing or repair. Smartphones these days cost as much or more than a new computer, and many people don’t have those extra hundreds of dollars laying around. Save a little bit each month so you can avoid interest charges on a new phone or computer if yours doesn’t make it much longer.