Reply to Ok I'll jump on the budget bandwagon

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Reply to "Ok I'll jump on the budget bandwagon"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't see anybody's budgets accommodating things like car or home maintenance and repairs. For me these only crop up once or twice a year but add up to thousands, so I add a few hundred to my monthly budget to cover.[/quote]

Good point. I don't see healthcare costs in here, either. I have pretty good insurance and my family is in good health but it seems we average at least $50 each month on co-pays, deductibles, and uncovered expenses.[/quote]

Not the OP, but our budget also has a misc category which covers things like copays and minor maintenance issues (new toilet flapper, oil changes). For major maintenance costs (like plumbing work or a new roof) it comes out of our savings--we always keep a good chunk of savings readily available to cover things like this and then gets replenished. So I don't think of it as a line item in my savings, I just make sure we always have a good cash reserve available to cover anything that might come up.

Before we make any major optional expenditure (new furniture, vacation, etc) we look at our savings balance and any anticipated upcoming costs and use that to decide whether we want to spend the money now or postpone. The decisions are based on our overall financial picture, not on putting a specific amount away each month towards specific spending goals.

Not that one way is right or wrong, just a different way of budgeting.[/quote]

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