Plan for the Unexpected Financial Burdens

April 7, 2009 at 8:49 pm (Apartment Living) (, , , , , , , )

When I made my list of things that needed to be covered each month, I didn’t exactly jot down everything. I don’t buy birthday presents every month, nor Christmas presents. I don’t get an oil change all of the time nor get my car fixed. But these are all financial traps that can quickly bring you into debt if you’re a credit card happy fiend. I started a list that will probably have to be edited in the future of things that you WILL need extra cash for and will need to plan for when you run into extra money. Sometimes it’s not there to spend on yourself, but to plan for things down the road.

1. Birthdays: I’ve got a bit of a system with birthdays. I try to shop online on places like amazon to buy cheaper things that are the same as what they want. I also have a chase debit card that gives me points when I spend money so I can redeem them for gift cards. These make great gifts!

2. Christmas: Definitely watch out for this. Don’t spend beyond your means because one happy day may mean misery for years to come if you’re not careful.

3. Car maintainance: Oil changes, unexpected repairs, breakdowns…Cars aren’t MADE to last. Keep this in mine the next time you decide to eat out twice a week because “it’s only 5 bucks each time”. That’s 40 bucks a month! On just lunch twice a week!

4. Overspending on Groceries: It’s way easy to do. One friend get together here, 5 extra items beyond the norm there…the point is, EVERYTHING you do adds up. Holidays are a wicked time when it comes to groceries because most people plan on doing SOMETHING for them.

5. Pets: Vet care, food, shelter, water, anti-flea and worm medications, illness, litter, leashes, etc. Pets are EXPENSIVE. Do not think of them like plants that need some water and they are good. It’s not how the bargain between pet and owner works.

6. Personal maintainance: Medications, hair cuts, new clothes, makeup, cologne, perfume. I guarantee you aren’t figuring these bits into your grocery budget. On the occassion you need makeup, spend 10 bucks less on groceries so it makes up for purchasing it. It’s allllll about financial balance.

7. Fun time: Do you have a “fun” budget? Want to go to the movies? Go to a museum? Go out to the bar with friends? Take your lady or man friend on a date? And don’t forget to generously tip your server! Nothing looks worse on a date than appearing like a cheapass.

Watch your bad selves ladies and gents! Even if apartments can be cheaper than housing, don’t fool yourself into thinking it means you have more to spend!

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