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Life with N,  Money with N

5 Hidden Expenses To Include In Your Budget

Covid-19 has played a HUGE role in mine and my husbands financial situation.

I’m sure many of you reading this can relate. The cost of everything has gone up and some have gone up quite significantly. Though I was definitely taught to have a savings account, I wasn’t taught how to save when there’s no money left over. As a young adult, and a young mom, that was something I always found quite frustrating to be honest. When the experts, and authorities preach to SAVE, but no one tells you how to manage life, pay your bills, be left over with 0$ and STILL somehow save.

Guess what babes? Today, I’m going to tell you how.

The first thing you need to do is actually create your budget. I won’t get into too much detail about this, but I did write a post about it a while back that could be helpful! (How I Set Up My Budget) A quick version is to write down your expenses/bills, and write down your income. Allocate your income to your expenses. I usually check mark things when I’ve paid them, and I often put a date as well. This is mostly because of my terrible memory, but also makes it easier if I need to go back in my banking history to find that transaction, I know where I’m looking.

My husband and I have always lived by a budget.

I mean, sometimes we go over on some expenses, or sometimes there are unexpected expenses, but for the most part, everything is pretty stable. Lately though, I have felt the strain a little bit more. I opened up our online banking account, and went to investigate where the money was going.

Tim Hortons, McDonalds, and the local little grocery store for late at night munchies.

As well as, Netflix, Crave, Amazon Prime, Tailwind, Canva, and even more. None of these things are in my budget! Added together these things were totaling several hundreds of dollars every month! I couldn’t believe it. This really opened my eyes. I started doing some research about a family budget and found this awesome calculator. Calculators like this can be super helpful to give you an overall idea of costs.

So, needless to say, here are 5 HIDDEN expenses I found in my banking history!

Netflix/Crave/Prime – This is definitely being budgeted in. I didn’t even realize how much I was spending on streaming services. Kind of got me wondering if they’re all needed? How many streaming services do you have?

Coffees – This could be Starbucks, Tim Hortons, etc. My husband does drive a lot for his work though, so this one is going to get budgeted in. I am definitely not cutting back on the coffee.

Amazon misc. – So many random Amazon orders! It seems like every single day I have new parcels waiting for me to open. Lots of stuff I completely forgot that I even bought.

Canva – This one is staying but getting budgeted in. I use Canva all the time for my blog. It’s a must.

Take Out – This is definitely an area that we need to cut back in. I’m thinking of setting aside a certain amount of money every two weeks for take out. Do you do take out? Do you budget it in?

Covid-19 has played a HUGE role in mine and my husbands financial situation.

I’m sure many of you reading this can relate. The cost of everything has gone up and some have gone up quite significantly. Though I was definitely taught to have a savings account, I wasn’t taught how to save when there’s no money left over. As a young adult, and a young mom, that was something I always found quite frustrating to be honest. When the experts, and authorities preach to SAVE, but no one tells you how to manage life, pay your bills, be left over with 0$ and STILL somehow save.

Guess what babes? Today, I’m going to tell you how.

The first thing you need to do is actually create your budget. I won’t get into too much detail about this, but I did write a post about it a while back that could be helpful! (How I Set Up My Budget) A quick version is to write down your expenses/bills, and write down your income. Allocate your income to your expenses. I usually check mark things when I’ve paid them, and I often put a date as well. This is mostly because of my terrible memory, but also makes it easier if I need to go back in my banking history to find that transaction, I know where I’m looking.

My husband and I have always lived by a budget.

I mean, sometimes we go over on some expenses, or sometimes there are unexpected expenses, but for the most part, everything is pretty stable. Lately though, I have felt the strain a little bit more. I opened up our online banking account, and went to investigate where the money was going.

Tim Hortons, McDonalds, and the local little grocery store for late at night munchies.

As well as, Netflix, Crave, Amazon Prime, Tailwind, Canva, and even more. None of these things are in my budget! Added together these things were totaling several hundreds of dollars every month! I couldn’t believe it. This really opened my eyes. I started doing some research about a family budget and found this awesome calculator. Calculators like this can be super helpful to give you an overall idea of costs.

So, needless to say, here are 5 HIDDEN expenses I found in my banking history!

Netflix/Crave/Prime – This is definitely being budgeted in. I didn’t even realize how much I was spending on streaming services. Kind of got me wondering if they’re all needed? How many streaming services do you have?

Coffees – This could be Starbucks, Tim Hortons, etc. My husband does drive a lot for his work though, so this one is going to get budgeted in. I am definitely not cutting back on the coffee.

Amazon misc. – So many random Amazon orders! It seems like every single day I have new parcels waiting for me to open. Lots of stuff I completely forgot that I even bought.

Canva – This one is staying but getting budgeted in. I use Canva all the time for my blog. It’s a must.

Take Out – This is definitely an area that we need to cut back in. I’m thinking of setting aside a certain amount of money every two weeks for take out. Do you do take out? Do you budget it in?

There are many stories online of families living wonderful lives on a smaller budget. I think that accounting for every dollar can definitely help make this happen. (A great article with some ideas can be found here.) Of course the strictness of your budget is dependent on many things, such as, goals, income, lifestyle, etc. But, maybe take a peek at your banking info and find out where your money is going!

Is any of this relatable? Do you have any of these hidden costs?

Love Always, Enn

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