Finance Globe

U.S. financial and economic topics from several finance writers.
2 minutes reading time (316 words)

These Hidden Expenses are Killing your Budget

Creating a budget is only half the battle. The other half is staying on track, day in and day out, no matter what comes your way.

You may not realize it right now, but there could be hidden expenses killing your budget. If you don’t know what these are and how to get them under control, you will continue to suffer month after month.

Are these expenses giving you trouble?

1. Vehicle maintenance. This can include everything from new tires to an oil change. If you don’t budget for this, or at least put money aside, it could come back to haunt you when your vehicle is in need of maintenance or repair.

2. Pet care. Just the same as humans, pets need special care. When is your dog scheduled for its next vet visit? When is it time to purchase more food for your cat? You have to budget for pet care, even if this expense isn’t one of your largest.

3. Special events. From birthdays to weddings, you never know when one of these events will pop up on your calendar. Do you have money in your budget to purchase a gift? Do you have money to travel to and from the event, if it is not taking place in your local area? Many people neglect to budget for special events since they only come up from time to time. While this may be true, you still want to keep these in mind when budgeting your money.

Other hidden expenses to be aware of include but are not limited to: health insurance and medical costs, vacations, service calls, emergencies, and extracurricular activities for your children.

You may not believe it to be true, but one or more of these hidden expenses could be killing your budget. Rather than continue to let this happen, take the time to pinpoint the problem and find a solution.
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Friday, 23 August 2019

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