Five Unexpected Costs to Include in Your Household Budget

 

When owning a house, it makes sense to have a budget for all of your expenses, no matter how big or small they might be. The trouble is that there are many expenses that you might forget to include in your budget. These can be one-off costs that don't fit neatly into your budget scheme. One idea is to average them out over 12 months, so you can see how much they might be costing you per month. These types of expenses can vary, from the small to the huge. Read on to find out about five costs you should make sure you’re budgeting for.

 

Pool Resurfacing

 

Pool resurfacing only needs to happen every few years, but when it does happen, it can take up a lot of time … and money. You will need the services of a professional Pool resurfacing Jacksonville company in order to make it happen. Ideally, you should plan this well in advance so it can be well-incorporated within your monthly budget.

 

Family Holidays

 

Once the coronavirus pandemic dissipates thanks to the extremely successful vaccine campaign, you will probably want to go on holiday with your family. The full costs of this, including the amount of money you want to spend while you are there, should be fully incorporated into your monthly budget. Usually when on holiday, people have a more relaxed attitude to money, which can lead to overspending. Make sure that you preload a cash card for your trip, so you can manage your money.

 

Annual Payments

 

Whether it's a bill for your car, your pets or your house, annual payments can be some of the most stressful parts of maintaining a healthy household budget. That's why it's worth combing over previous payment records to see when these annual payments usually occur. Afterward, you can put the necessary effort in so you can finally afford those big payments when they come round.

 

Emergencies

 

Whether it's losing your job, like a lot of people did last year, your car breaking down, or one of your children falling ill, life can throw all sorts of challenges at you - and these much easier to handle if you have enough money to fall back on. That's why it's a great idea to have an emergency fund of at least six months’ pay in order to get you through even the toughest of times. If you don't have the fund now, try and start saving as early as possible in order to build up a suitable rainy day fund.

 

Christmas and Thanksgiving Gifts

 

Given that the average person in the USA is expected to spend over $850 each year on Christmas gifts, this is definitely something worth factoring into your budget, especially when combining it with holiday travel or putting up decorations. You should also consider the cost of Thanksgiving; coming just before Christmas, the two holidays can combine to put a black hole in your budget every year. By preparing well in advance, you will be able to afford the festivities with ease.