10 Things You’re Probably Forgetting to Budget For…

Budgeting is one of the most important things a person can do for their finances because it gives your money a job and helps it to work for you instead of against you. If you’re reading this post, I can assume that you know the importance of having at least a monthly budget and have tried to create at least one in your life. 

Learning how to create your first budget can be a pretty daunting task and it’s possible for that budget to fail very quickly if you don’t remember to budget for all the important things. 

This post outlines 10 of the most common things you’re forgetting to budget for and will hopefully serve as a good reminder to change up some things in your budget if it stops working! 

10 Things You’re Forgetting to Budget For

#1 – Monthly Subscriptions

Sometimes when we’re thinking about all of our expenses some of those monthly subscription services we have can slip right through the cracks. Things like Netflix, JustFab, or Audible can be a huge budget killer if you don’t plan ahead for them.

The first thing you should do though is to cut out some of these expenses entirely before even creating your budget because so many of them aren’t actually necessities! 

#2 – Once a Year Fees

Unfortunately, there are some once a year subscription services that manage to slip through the cracks as well. Recently, I completely forgot that I had an Amazon Prime membership, like totally didn’t even know because I was on a bit of a no-spend and hadn’t been ordering a ton. When I got my credit card statement I was shocked to see that I was charged almost $100 (Canadian) for the service and didn’t even use it!

Be sure to add these kinds of things to your budget, so you don’t forget they exist at all.. 

#3 – Pet Expenses

Our furry friends are the loves of our lives, but man they can be expensive. My dog can eat so much food and destroy every single toy and I never remember to add him to my budget!

It’s really important to have a monthly line item for your fur babies that can cover their food, toys, poop bags (why did I giggle when writing poop bags?), and any emergency medical visits they may need! 

#4 – Taxes

Where my self-employed readers at!? Being self employed is the best and the worst all at the same time. We have so much control over our time and we get to wear pjs every single day if we so choose BUT we have to remember to pay our own taxes every year instead of having them taken out of our paychecks.

If you’re self-employed, you should add a budget line item for taxes where 30% of your income goes each month just to make sure you can cover the cost! 

#5 – Beauty Products

Do you ever notice that every single thing in your medicine cabinet seems to be empty at the exact same time? I swear I run out of moisturizer and shampoo at the same time that my tooth paste and mascara are empty #conspiracy.

This is a really important part of your budget because you never really know when these things are all going to be empty! So it’s a good idea to plan ahead!

#6 – Self-Care

Self-Care is so incredibly important for your sanity. If you aren’t able to take care of yourself, then you aren’t going to be able to take care of business in any other part of your life! Having a monthly self-care budget is key to a well-balanced life.

The “self-care” line of your budget could include manicures, massages, movie dates with yourself, new books, and so much more. Whatever makes you happy! 

#7 – Savings 

Have you ever heard the phrase pay yourself first? If you don’t prioritize your savings, then you’re just never going to save! You NEED a line item in your budget that’s just for your saving money plans.

This could include your emergency fund, or sinking funds, or saving for your kids college! Whatever your priority is, you need to budget for it. 

#8 – Hair Cuts

Does anybody else wish we could all just wear wigs and not have to cut our hair every couple of weeks? Man, that would make life a lot less stressful and so much less expensive! I always forget to add a haircut into my budget because I always forget that my hair is growing all the time. Be sure to add your haircut to your budget whenever you know you’ll need it! 

#9 – Prescriptions

If you take any daily pills or even vitamins, they’re going to cost you money which means they must be in your budget! Prescriptions can really add up if you don’t have the proper insurance so it’s really important to make sure you have the money to cover them so you don’t lose your physical health or your financial health!

Personally, I budget $30 a month for my daily vitamins! 

#10 – Gifts

Depending on who you are, this line in your budget could be huge, or it could be very very tiny. I’ve noticed a ton of people forget to add gift giving to their budget and then they realize that there are 4 birthdays in one month and their entire monthly budget gets thrown off! For me, that month is September. Boyfriend, Sister AND Brother, Best Friend, and Grandmother. SOS.

The amount you budget for gifts each month doesn’t have to be consistent because some months will have more birthday’s than others, and obviously christmas will be the worst month for this! So plan accordingly. 

Learning how to make a budget and creating your first budget is actually just the first step, learning how to stick to a budget is the hard part. There are at least 10 Things You're Forgetting to Budget For that you should definitely take a look at to be better with your money and to add to your budget binder #budget #money #finance

Do you forget to budget for any of these things? Or are there others you think I missed? Let me know in the comments! 

Taylor O'Halloran

Hey! My name is Taylor O'Halloran and I'm a huge fan of saving money any way I can.I'm obsessed with dogs and I love all kinds of cheese even though my stomach hates it.  I'm a recent university graduate who just wanted to do her own thing and see what happens! Follow me on the journey!

2 Comments

  1. Great list Taylor! Yes, those monthly subscriptions usually fall through the cracks for a lot of people. It’s important to look at every cent when you are budgeting.

    1. Taylor O'Halloran says:

      So true! Thanks for reading ☺️

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