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Budgeting is a great way to live within your means and ensure that all of your essential expenses are covered, but if you forget to include this and that here and there, then your finances can very quickly get out of control.

With that in mind, here are some things that you should definitely include in your family budget that many people often forget to include:

Annual payments

Because they are only paid for once a year, many people forget to include annual expenses like pet insurance and getting an MOT for the car in their budget, but it is a lot easier to pay for annual expenses, when you have included them in your weekly or monthly budget and saved up for the amount required to cover such bills over the course of the year, so be sure to always include them in your budget.

Birthdays and other celebrations

Most of us have at least a handful of people for whom we would like to buy gifts or give cash to when it is their birthday, wedding or christening, for example. If you are on a tight budget, it is important you include provision for such expenses in your monthly budget planning otherwise, you may find yourself short when the important event is near.

Think about how much you spend on gifts on average and multiply that by the number of people you usually buy for in a year. Divide that by 12 and add it to your budget so you are prepared.

Pet care

If you have a pet, then it is a good idea to take out pet insurance to ensure that you do not have to pay any huge bills should they get sick. However, even if you do have insurance, you will need to factor in costs like dog grooming, treats and toys, any pout-of-pocket vet bills you have to pay and so on. Your pet is part of the family, so you should absolutely factor him into the family budget too. You can check out Embrace pet insurance reviews and similar reviews of other insurance providers to discover which insurance provider and policy might be the best fit for you and your pet.

An emergency fund

If possible you should always factor saving for an emergency fund into your family budget. The bigger the savings fund you can build up, the less reliant you will be on credit when things like car breakdowns or unexpected school trips crop up, and the more peace of mind you will feel.

Yourself

Unless your budget is right down to the wire, where every penny counts, it is important that you factor in a little fun money to spend on yourself. Life can be pretty miserable if you do not treat yourself now and again, so try to factor in a little spending money to pay for the occasional takeout coffee or a new top. Even if you were looking to protect your device in style with custom phone cases to express your unique style, allow yourself those small pleasures. Do whatever will help you to feel good, thereby making it more likely you will actually stick to your budget.

Building the best family budget you can, which includes as many expenses as you can, is the best way to manage your money, so what are you waiting for? If you find it difficult to keep track of your finances, it might help to seek expert support from Cloud Bookkeeping services that can care for your budget and finances to maximize your maximize.

 

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