A futuristic budget plan would place finances on tactical alert to watch for suspicious spending behavior and destroy it before debt takes over. It would be great fun to see household budget programs simulate a child’s video game. If only there was a simple maneuver used to obliterate debt. In a realistic setting, budgeted expenses are organized into categories and household monthly income must target each bill individually. There is no blanket approach to disintegrate credit card debt. It takes hard work, dedication and a realistic view on what income really covers. There are many unplanned expenses that often sneak into a budget and disrupt the balance within. How will your credit cards ever get paid off if budget leaks are plugged by additional charges?
How many of these sneaky expenses did you forget to plan for?
Clothing – Clothing budgets are often planned for change of seasons, new school year and even a new job. What about when your child loses their winter coat? Sneakers wear out too soon? How about the magical growth spurt the shot your youngster up four inches taller in just a few months? It helps to have an emergency fund to turn to for help rather than relying only on credit cards. Look for consignment or thrift shops to save on the newly acquired expense.
Technical difficulties – Your budget planned for the purchase of new products but did it plan for a computer catching the latest virus? Did the laptop’s chord get caught in the vacuum or the motherboard goes haywire the month after the warranty expired? You may find an inexpensive replacement or repair service, but what category do you pull money from to pay for it? It’s best to plan for unexpected home repairs of any kind.
Travel expenses – You saved for months to pay airfare, hotel and rental car costs. You even worked on a fund that covers food, gas and souvenirs. What happens when you remembered to pack everything but the bathing suits or found an expensive Sunday brunch that the family would enjoy? It would be nice if you have an entertainment fund to pull from so you don’t have to go without.
Household essentials – The food budget is part of the plan, but what about the non-food items? Do you fit toiletries into the budget? How about cleaning supplies or over the counter medicines? These items can eat away at budgeted food costs leaving you with new credit card debt or worse yet, to search online for payday loan help. It is oftentimes the small expenses that send a budget backtracking in debt.
A budget needs to plan for it all. There is no easy way to support all costs and keep new debt off the books. When you plan for emergencies and extras, don’t forget to include the sometimes and unexpected costs that attack on the sly when you least expect it.