Yes, we have reached that stage in life when there is the need to carefully set up a budget and for this reason, each and every family must make sure that some stuff are as well included as their budget items.
These things may appear to many of you as minor ones when you have decided to start setting up the budget, but I can assure you that they mean a lot when the time has come and they emerge as unexpected things that must be covered with costs that haven’t been previously planned for. At the same time, these things may not occur to you at all when setting up the budget, this being the reason this article is written.
Check out with the following budget items to make sure that you don’t miss out on them and stay as such prepared for the unexpected:
- Pocket money – It is important to always put aside some ‘change’ for those lunches that you need to eat at work. If you are used to cook meals at home and grab a lunch box out of the leftovers, it is even better. But if you are used to order for your lunch at work then you can set up a small amount for the weekly allowance to spend on this item. This is also valid for your kids in case you have got them used into the habit of having a couple of buck per day for a hotdog at school.
- Speaking of school, don’t forget to include budget items related to school incidentals. If you know that your kid was selected for the next year soccer team, he or she may need a new training equipment or probably money for the training camp. It is always worth saving some money aside for these types of situations.
- Car repairs – these expenses can be quite unexpected and quite big so it is better to include them as budget items when you need to set up your budget. A good idea is to open an account that can pay for car repair emergencies and for those repairs that are not covered by your car insurance policy. Also routine maintenance along with oil changes are expenses that are carried out on regular basis, so it is a good idea to have this account opened as an additional funding for these needs. You can simply add up a small amount each and every month until you reach a sum that you are comfortable with.
- Another budget item that you should consider including on your list is the prescriptions in case your family requires for these ones on regular basis.
- Gifts are other budget items to take into account because anniversaries and holidays happen each year and you wouldn’t want to stay uncovered with these types of costs.