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Have you nailed down January’s spending plan? We like to think we’ve remembered it all, but more often than not, we forget necessary expenses that seem to derail or, at least, throw a wrench into our budgets.
I thought I would put together a quick post to help you remember all the expenses you should consider.
Commonly Forgotten Budget Expenses
Here’s the most comprehensive list of frequently forgotten budget expenses to include in your budget:
1. Special occasion gifts (birthdays, anniversaries, weddings, showers, etc.)
2. Car maintenance
3. Car registration, license, inspection, and taxes
4. Christmas/Hanukkah
5. Drivers license and ID renewal
6. Prescription drug costs
7. Medical and dental visit co-pays including ER visits and medical procedures
8. Gym memberships
9. Pet food, vet visits, medications, grooming, pet sitting
10. House maintenance
11. Seasonal yard maintenance and snow removal
12. Travel costs including day-to-day, vacations, day trips, etc
13. Back to school shopping
14. Hair cut, color, treatments
15. Household and cleaning supplies
16. AAA or other roadside assistance membership
17. Costco/BJ’s/Sam’s Club memberships
18. Amazon Prime membership
19. Health, life, disability out-of-pocket insurance costs
20. Clothing and shoes
21. Kids extracurricular activities including sports-related expenses
22. Increases in heating or cooling costs (if you’re not on a budget plan)
23. Donations
24. Quarterly and annual bills or other nonmonthly bills (water bill, things you pay in one lump sum)
25. Eating out
26. Entertainment
27. Professional licenses and memberships not covered by your employer
28. Tax preparation fees
29. Taxes on money earned through freelance or self-employment work
30. At home babysitting costs (when you go out for a night on the town)
31. Newspaper and magazine subscriptions
32. Business expenses (conferences, trips, continuing education)
33. Fun money
34. Emergency fund and long-term savings
I can’t tell you how many times I missed these expense before I finally figured out to include them. And, in fact, I only started adding it when I switched from using a budget to developing a monthly spending plan. The spending plan helped me to realize all the expenses I was forgetting before and allowed me the flexibility to include what needed to be included each month.
If you’re still using a budget, I encourage you to develop a spending plan instead. You’ll quickly see how much flexibility is afforded you by using a non-flexible budget.
You can learn more about it by reading this post-Developing A Spending Plan or Create A Budget That Bends And Finally Stick To Your Plan.
If you need any help, send me an email at maureen@adebtfreestressfreelife.com, and I can help walk you through the process.
I’m a professional cleaner with over 13 years of hands-on experience cleaning homes, a published writer, certified money specialist, and the founder of A Mess Free Life. After paying off over $50,000 in debt, I dedicated myself to helping others master their homes and their money — proving that a clean, organized, stress-free life is possible no matter where you’re starting from. When I’m not writing, you’ll find me cooking, playing bocce, sipping an extra dirty martini, or enjoying the ocean with my cats nearby. I’m also a proud mom and grandma who cares deeply for my mother at home.
