Do you know what things to include in your budget? One of the key aspects of a budget’s success is ensuring that everything is accounted for. After all, there’s nothing worse than checking your banking account to see a lot less money than you were expecting to have leftover, all because of a few forgotten things to include in your budget.

Save yourself the headache and the panic of trying to rearrange your money in a way that somehow works how you need it to. Prevent the problem from happening in the first place! Since it is our goal to see you succeed financially and to achieve your wealth-building goals, we want to make sure that you are fully prepared and equipped to do so. We have crafted this list of the top five things to include in your budget, so be sure to include these in your financial plans and reach out with any questions! 

Snacks, Swigs, and Sweets

While you have probably already accounted for groceries in your weekly or monthly budget, you may not have accounted for ALL the grub you’ll be grabbing. Most people do not count on purchasing food or beverages outside of this allotted amount. When you think about it, however, there may be a pretty large portion of your budget being poured into these treats. 

That coffee and bagel you grab on your way into work because you were running later and did not have time to cook breakfast at home, the happy hour drinks and appetizers with friends on Thursday night, or the night you just *really* don’t feel like cooking, so you hit the drive-thru and grab a burger instead. All of these are extra food expenses are among the things to include in your budget. 

Darling Dependents

Some more budget busters that many individuals do not account for are kids and pets. While their regular care is most likely already infused into your budget, there are many extra expenses that come along with these cherished additions to your home. Doctor and vet visits, school fees, daycare, and more, failing to plan ahead for these costs can add up quickly and wreak havoc on an otherwise successful budget. Look back on past months and see how much you are spending on your loves and ensure that you add it to the budget for the future. 

Emergency Expenses

No matter how much you plan for, life seems to have a way of throwing unexpected or emergency expenses our way. Injuries and accidents can cause hefty hospital bills. Burst pipes, faulty foundations, and testy appliances can incur steep fees for homeowners. While there is not much you can do to prevent these circumstances from happening (but we certainly hope that they don’t!), you can plan in advance for the unexpected. 

Gift Giving & Special Occasions

Ever made it all the way to Christmas only to realize you still have to invest a boatload of cash into providing presents? Even if your finances remain perfectly maintained throughout the entire year, many budgets get blown during the holiday season. This can end up screwing you over for months to follow, so it is better to consider the holidays or special occasions just another one of the things to include in your budget before they break the bank.  

Recurring Charges

In a convenience-centered society, people have the tendency to see a flashy new subscription box or streaming service, and they are convinced to give it a try. More often than not, these companies offer a free trial (Get Your First Box Free When You Sign Up! Binge-Watch All Your Favorites Free for a Week!). While this is an enticing opportunity, they require credit card information to complete registration for this free offer. “It’s fine, I’ll just cancel it before they charge me,” you say as you type your card number in from memory. Alas, the free trial comes and goes, and distracted by everything else you have going on in your life, you have forgotten to cancel your membership. 

If you are regularly checking your bank statements, you may catch these subscriptions before they make a drastic dent in your account. However, if you do not catch them early on, they may eat up more of your budget than you anticipate, leaving you trying to make ends meet. Recurring charges are definitely one of the major things to include in your budget. 

If you want more assistance strategizing for your financial future, contact our accounting and wealth-building experts today! 

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