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7 Things You’re Probably Forgetting To Budget For

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Your budget should be nothing but effective and helpful. It is critical to keeping your finances on the right track and your money going where you want it to. And to do this you can not forget to budget for the following 7 items.

However, from my personal experience setting up my budgets, I always seem to forget multiple expenses each time. But that’s okay it is a natural tendency to omit expenses that don’t come to mind right away.

Just keep clearly in mind that if you aren’t putting every single monthly expense in your budget that it will fail. This is because once one of those expenses you forgot to budget for comes up it throws a big wrench in your budget for the rest of the month. Often times this ends with people throwing in the towel on budgeting altogether, because of feelings of failure.

There are a couple of reasons your budget may fail you. 1. they are not planned out to a T or 2. they simply just are not being implemented and used correctly.

If you are living by your budget religiously and it is still a big failure month after month,  chances are your problem stems right from the planning process.

How I like to figure out my expenses if by looking back at my past few months (I recommend at least 4-6) of expenses to see where my money is going and how much is going to each place. This is also great to see where you are overspending so you can take back control of your financial future. By looking back at the past 6 months this will give you every benefit of seeing all the expenses you have.

If you want to take an extra step and really crunch down on your finances it is also wise to look back at the past entire year of expenses. This will allow you to see and determine the expenses that only occur annually.

After looking back you will have a clear picture in mind of your future expenses you should include in your budget for the following couple of months. It is smart to always keep in mind that no matter how great your budget is you can not plan for everything, which is why it is sooooo important that you set up and emergency fund.

To help save you time and money which nobody seems to have enough of these days, I have compiled a list of 8 expenses you are forgetting to add to your budget! That desperately needs to be added. Keep reading if you want to know the expenses you are forgetting to include in your budget.

If you don’t have a budget started yet don’t sweat it! You’re actually in a better place because you haven’t had to feel the failure yet, you still believe that budgeting can be the answer your looking for. You are right too, budgeting can be the answer to many many financial issues.

1 | Saving

This is the most important expense you should never forget to include within your budget. Why? Well having a good savings plan in place will allow you to feel secure! Setting aside even $25 or $50 a month is better than nothing when it comes to savings!

You must focus on and prioritize paying your self a monthly bit before paying extras out (except your monthly bills.)

You will never succeed in saving money unless you take the initiative to strictly set aside the money for your self. If you don’t then you never really will have savings to fall back on. Trust me I’m a prime example of many savings fails. I love the idea of saving but I never have made it an actual priority before.

Why is budgeting the most important expense though?

It is the trick up your sleeve to financial security, and master plan to living debt-free. Don’t ignore it!

The following are a couple of saving categories for you to consider.

  • Emergency Funds
  • Sinking Funds
  • Financial Goals
  • Down Payment On A House
  • Retirement
  • Vehicle Purchases

If you are ready to take your savings seriously don’t risk forgetting it! Instead, you should opt to automize your savings each and every month. To do this all you have to do is set up an automatic transfer through your mobile banking app.

I highly suggest reading Money Lessons For Every Twenty-Something

2 | Home Maintenance

As you are probably very aware of owning a home can be very very expensive. Life happens and things break and need replacements all too often. Oh and don’t forget about the yard, you need to keep your lawn cut and flowers planted. So take your budget to the next level and budget for all home expenses.

This category isn’t just for homeowners, even if you are living in an apartment you should still be setting money aside each month. This money could be used for anything from a new vacuum or a new blender.

Here are some other expenses you should budget for.

  • Insurance
  • Trash Service
  • Lawn Care
  • Taxes
  • Maintenance
  • Furnishings

Each and every home is different and unique with many different variables. One idea of budgeting for home maintenance is taking a good look at your home and planning for the following year of repairs in advance.

For example, roofs are expensive so if your roof is getting old you should start saving a couple of years in advance instead of being oblivious and not being able to afford to replace it.

Or what would you do if your fridge broke and you were desperate for a new one? Setting money aside will allow you to be prepared instead of stressed when these situations arise.

3 | Sinking Funds

So what are sinking funds? It’s okay if you have no idea, I didn’t either until about a year ago. But they are so important!

You should think of sinking funds as your safety net. A sinking fund is a nice chunk of money you save for a specific circumstance or purpose in mind, and you can only used this money for that one purpose and that one purpose only! That includes life’s ups and downs, and what-ifs, as long as you save for with intention.

Sinking funds are no doubt a great way to save and are not nearly utilized or known as much as they should be. They are a great way to save for a specific event that you are aware of each year or every couple of months.

A couple of examples are as follows

  • Car Repairs
  • Home Repairs
  • Travel
  • The Unexpected
  • & More

For the purpose of painting a picture say On average you put aside $85 a month because your annual cost for home care and maintenance is $1,020. Essentially this means you will have a nice chunk of change to pay for your home expenses without going into debt, this will ease money stress immensely.

Want the full low down on how to use sinking funds?

I suggest reading A Beginners Guide To Sinking Funds

4 | Fun

Budgeting can have you in a bubble feeling alone and kinda like a robot. I say this in the sense that most people often forget about fun and entertainment when creating their budget. However you may have the idea that save, save, save, is the best when it really isn’t. You must be reasonable with yourself so you are sure to not burn yourself out.

You must be willing to budget for treating yourself to a night out with friends every now and then. And the best part is it will be a completely guilt-free night out because you have budgeted for it and can actually pay for it without using a credit card. Fun is so important to budget for because you don’t want to lose sight of who you are and your interests and hobbies. You’ll only grow to resent your budget more and more if you choose to not budget for fun.

Fun money in your budget is basically the money you can spend on anything you want! I am so excited for you to realize how easy it is to actually live off a budget when you include all expenses and are prepared for them.

If you need some inspiration on what you can spend your fun money on here you go.

  • Going for lunch
  • Buying a pair of shoes
  • Specialty coffee
  • Going to a movie
  • This list can include practically anything you can afford within your allotted amount budgeted.

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I made $130 in my first 2 weeks! And I want you to do the same!

5 | Itemized Savings

This portion was actually inspired by my sister! She is the cheapest person I know and is a great saver! (haha) Her husband is a Heavy Duty Mechanic Apprentice and they are a perfect example of living on a low income within their means while still saving.

The money habits they have developed have allowed them to be in full control of their finances, with zero impulse buys. Instead of going out to buy want they want on a whim they carefully save for a couple of months so they are sure they can afford the item without causing any unneeded financial stress. Some examples are:

Picture Frames

My sister has been married for over 3 years and has zero pictures on her walls. It’s not because she doesn’t want the picture on her walls but it is because she has not made it a financial priority to buy frames and develop pictures.  Instead of purchasing the frames she desperately wants right now she has been saving for them for the past 5 months. She wants a total of 9 frames at an average cost of $50 so instead of going out and spending the $450 dollars that they can’t afford to shell out right now she has put a small amount of money away each month so she will be able to purchase them guilt-free and debt-free.


They also do this for her husband’s tool needs. Instead of purchasing an expensive tool they cannot afford she budgets him a monthly tool allowance each month. But then she even goes a step further and budgets for a specific tool he will be needing. So when it comes time to make the purchase the money is there and they can remain debt-free.  Itemized savings are also super helpful in eliminating impulse buying habits. They really allow you to work towards something, and make sure you are really in need of the item you are saving for. You may even realize you don’t need the item. Itemized savings basically give you the time to really thinking about your coming purchase to make sure it is worth it.

6 | Hair Cuts & Coloring

I know I am not the only one that is forgetting to budget for hair cuts and coloring! It’s a cost that slips most people’s minds when creating their budget.

With me and my husband on average, we spend at least $500 per year on haircuts and coloring. If I didn’t budget in my hair care cost it could throw a big wrench in my budgeting success for each month!

The biggest problem is for the longest time I was not planning for these expenses. It’s not that we couldn’t afford it, it was just failing to allocate the money properly.

One way to save on this cost is to purchase a set of clippers and learn to do your husband’s hair if he just likes it buzzed or is going bald haha. Why not just save your self the cost of something you can do for yourself.

7 | Pets

If you are a pet parent then you know how expensive they can be! Different expenses can add up quickly and end up being quite costly.

This is an expense you should not forget to budget for after all you never know when emergencies may arise that will cost you. After all your furry family members deserve the best.

However, you shouldn’t just budget for an emergency situation for your pets, everything pet related should be accounted for within your monthly budget.

Such things may include:

  • Vaccines
  • Food
  • Checkups
  • Treats
  • Toys
  • Accessories

And whatever else you may impulsively want to buy for your pet when you are out and about. Just make sure it is budgeted for so your budget can flourish.

8 | Medications, Medicine, and Vitamins

Catching the flu that knocks you down for days is a bummer – not to mention the flu can really throw your budget for an unexpected loop. After all, you were not planning on getting sick. But yet your basket at the store is still filled with vitamin c and cough syrup, and chicken noodle soup. When you’re sick you really don’t care about the cost you just want to feel better. This is why you should plan for and include in your budget a category specifically for vitamins and medications.

Don’t forget about any other medications you are regular on, I mean birth control is cheap but you should still jot it down under your medication expenses.

Also, don’t forget about the everyday multivitamins you take, they should also be accounted for in your budget. After all, you want a successful budget so you need to include everything.

On A Final Note

So here are the 8 expenses you should definitely not be forgetting to budget for. They may not all apply to you but you should definitely implement most of them.

Keep in mind you don’t have to create completely different categories you can add these to existing ones you already have in your budget.

If you have any other budgeting expenses people may be forgetting I would love to hear them. Leave me a comment below.

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