When one tries to plan their budget for a new year, you must keep in mind the expenses that will sneak up on you. Keeping these in mind will help you to plan for them, or avoid them if needed. Here are some of those unexpected expenses, knowing these you can find more in your life.
Gifts are one thing you need to remember. Everyone you know has a birthday, and if you are one who likes to buy gifts for those you know you should keep money in your budget for them. If you do not put money into your budget for these presents, when it comes time to buy one, it could upset your budget all together. So remember when planning your budget do not forget about birthdays.
If you are someone who speeds, then it is a good idea to have some money set aside in your budget for tickets. You may not get pulled over, but if you speed you have a greater chance of getting a ticket. The same goes for any risky driving behavior. You never know when you could get pulled over and have a ticket that you need to pay. This has never been more true than now with all the cameras that are up everywhere.
Health related bills can often times be large. If you have a history of health problems, having a savings account just to use to pay these bills would be a good idea. This is a good idea even if you do not have medical issues. You never know when you or a member or your family will end up sick with a larger medical bill.
It seems like home and car repairs are needed at the worst times possible. If you expect the unexpected and have money put away in the event that you need a home or car repair is a good idea. You never know when something needs fixed and cannot wait. Prepare for the unexpected and you will be glad that you did.
Job loss is another unexpected expense that you could have. What will you do if you do not have an income? This is a major reason you need to plan for the unexpected. An emergency fund can save you during this time. This fund should have at the very minimum six months worth of your salary in it so that you can survive for that long until you get a new job.
Planning for the unexpected sounds more difficult than it really is. If you start saving for various situations now, then when or if they happen you will be much more prepared. If you plan and save for a situation that never happens then you will have that money to use for something else. After all it is better to be safe than sorry.
Latest posts by Roxxie (see all)
- Does The CHOICE Act Promise a Better Future for Helpful Financial Services Like Fast Cash Loans? - December 26, 2017
- Donald Trump Will Knock Down the Legacy of Elizabeth Warren Regarding Payday Advance Loan - December 5, 2017
- CFPB Should Not Tighten the Rules for Lenders Providing Payday Advance Loan - November 14, 2017