Types of bills to pay in usa2/25/2023 We can’t forget the fur babies! Annual exams and shots are easier to budget for since you know they’re coming, but what about those vet trips that happen out of the blue? You might want to create a line item in your budget for your pup or feline friend. And don’t forget about field trips and school pictures! 9. If your kids are already in school, be aware of season-specific camps and workshops, plus the fees, uniforms and snacks that go with each. If you have a child in daycare, you’ll likely have to pay to reapply each year and hold their enrollment spot. (Or better yet, save on this budget line by getting a family member to watch the kids or swapping babysitting nights with another couple for free!) Right? Whether it’s for a planned date night, something unexpected or just for your sanity, adding a babysitting budget category will be your lifesaver. Listen-if you’ve got kids, you know you’ll need a babysitter every once in a while. Don’t forget about expenses that don’t always happen monthly, like seasonal clothing or haircuts. Keep a running list of items running low, so you can plan ahead and always have money to cover what you need. And guess what? You use them every day, so these aren’t monthly expenses that should surprise you. They’re not necessarily the most exciting monthly expenses to put in a budget, but essentials are a part of life. Toothpaste, shampoo, dishwasher detergent, paper towels. When budgeting your monthly expenses, don’t forget to include monthly premiums for: Think of it like a shield-insurance helps protect all the things you love and will be your saving grace when life happens. Yeah, insurance can be kind of boring, and it might feel irritating to spend money on it, but paying for insurance is a must. Then watch as everything else starts to flow. Whether you give to your church or your favorite charity or organization, start your month by giving 10% of your income to a specific cause dear to you. Not just because we like to be a little weird (we do!), but because when we give, it takes the focus off of what we’re lacking and shines a light on helping others. And yes, it’s one of the first things we budget for each month. Around here, we’re all about being generous. It may seem backward to think about giving as a common monthly expense because there’s already so much in life to pay for. Stay on top of your calendar and add extra for special occasions like traveling to Grandma’s or an out-of-town soccer tournament. Keep in mind these numbers might be different depending on your schedule or the time of year. This category includes gas, public transit fees, routine maintenance-anything you typically pay in a month for transportation. Whew, right? It adds up quick! To keep your housing costs from hogging most of your budget, keep these expenses to 25% or less of your take-home pay. Don’t forget insurance, property taxes and HOA fees. Just including your rent or mortgage payment isn’t enough when budgeting for your housing costs. To be safe, budget on the higher side-and if you don’t end up needing it, throw the extra at your debt (if you have any!) or your savings. Frigid winter temps? Put on some fuzzy socks. (Nobody likes to sweat while they sleep!). Blazing hot summer? Add a little extra to this category. Include all the services that keep your house running: electricity, water, natural gas or propane, and trash services. Remember, these utility bills might change from month to month. Use coupons, eat what you have at home, go out to eat a few less times than normal-it all adds up in a month. It’s the number one category where people overspend (so easy to do, right?). This category will include what you spend on groceries and eating out at restaurants.Īnd if you’re looking to find extra money in your budget, food is the place to start. When budgeting for your monthly expenses, start with what we call the Four Walls-aka the basic necessities you need to survive: food, utilities, shelter and transportation.įood comes first-because, well, everybody’s got to eat. Here’s a list to get you started! Basic Monthly Expenses 1. Of course, monthly expenses vary from person to person and situation to situation, but there are some common monthly expenses to think about when you start a basic budget. That's why you need a plan, aka a budget.Īnd that starts with taking a look at your basic monthly expenses. The truth is, you’re way more confident- and you enjoy life more-when you’re prepared for it. Would you give a big presentation at work without preparing at all? What about your wedding day? You wouldn’t just show up without a plan and hope it all worked out, right? Not in a million years.
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