INSURANCE
JOHNNY WHITE Johnny White State Farm
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How to BUDGET for NON-MONTHLY EXPENSES
Everyone runs into irregular or non-monthly
expenses throughout the year . Say goodbye to these budget busters . What are non-monthly expenses ? Non-monthly expenses are one of three types of expenses included in your budget :
• Non-monthly expenses are sometimes called budget busters because they ’ re expenses that can come out of nowhere or from impulse spending . Some common non-monthly expenses are vacations , car repairs , holiday gifts or that big screen TV you couldn ’ t resist .
• Fixed expenses are the payments and amounts you know about , like rent / mortgage , car or student loan payments .
• Variable expenses are also expenses you know about , but the amounts vary . These are expenses like groceries , gas , utility bills , restaurants , parking or ride shares . Not a budgeter , you say ? If you earn money and spend money , you budget ! Whether you keep a spreadsheet down to the penny or toss your bills and receipts into a drawer , it ’ s easy to forget about nonmonthly expenses .
Who experiences nonmonthly expenses ?
Everyone ! These sneakup-on-you expenses can feel like emergencies , but you can budget for them . You can also save up for things that are long-term , planned purchases .
Pro Tip : Review your last
few bank and credit card statements to see if you ’ ve had a budget buster . Did you see that expense coming ? If you did , it ’ s something you can prepare for the next time . How can I budget for non-monthly expenses ? You don ’ t need a crystal ball to know there are expenses that hit throughout the year , but don ’ t happen every month . From travel to routine car maintenance , to those save-the-dates for next summer ’ s weddings , all you need is a calendar .
Pro Tip : Look through the next 12 months on your calendar . Do you have special events or trips you could be saving for now ?
Why should I budget for non-monthly expenses ?
Taking control of nonmonthly expenses can help make sure they don ’ t blow up your budget when they happen . Having a clear game plan for the money you earn is the foundation of smart money management .
Pro Tip : Try keeping your non-monthly expenses account ( s ) separate from your main banking . Separating these from the rest of your budget is one way to prevent being caught off guard . Keeping them separate helps prevent possible temptation while you save . YOU GOT THIS Now you know that “ came out of nowhere ” expenses have another name : nonmonthly expenses . With a little knowledge and some pro tips , you ’ ll be ready to pay for that extra gift , plane ticket or new license plate sticker !
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