When you decide to make a budget, as you should, you will no doubt start calculating all of your income and put it up against your expenses. However, we can almost guarantee you that you’re making the same budget mistake as thousands of other Americans: forgetting recurring annual and semi-annual expenses.
It happens to families across the nation over and over again. You set a budget you think looks good, and yet every month you seem to be going over. Even when you’re following the budget, resisting the urge to spend excessively, you’re over-budget. It’s probably because of those recurring annual expenses you, like the rest of us, tend to forget about.
How to Fix Your Budget
The fix for this is actually pretty easy, especially now that it’s been brought to your attention. You’ve probably already started thinking about all of the little, or not-so-little, recurring expenses. Some common annual or semi-annual costs include:
- Car insurance
- Life insurance
- Yearly parking permits
- HOA dues
- Car registration
- Annual check-ups
- School supplies if you have kids
- Professional license renewals
- Credit card fees
- Union dues
These costs and so many others often find the worst times to pop up. Make sure you stay ahead of them so that they don’t take you by surprise and throw your carefully constructed budget completely out of sync.
Finance-related stress can cause serious damage to anyone’s health and wellbeing. The Manalapan bankruptcy lawyers are here to help you find the best solutions to your money struggles, and guide you to financial freedom.