3 Budgeting Mistakes That Could Be Tripping You Up (2 min read)
This article talks about some of the mistakes to watch out for when budgeting. The first mistake is forgetting your one-off expenses. It's easy to remember expenses that occur every month but the ones that happen once a year might be easily forgotten. If you have any annual renewal fees for example, it is important to include that to your monthly budget as well. The second mistake is guessing your variable expenses. Cost of groceries, for example, changes month to month, so it would be better to use real data instead of assumptions in your budget. An easy way to do so is average the monthly grocery costs in the last six months. The third thing to watch out for is when bills increase. Recurring bills such as cables or streaming services can increase from time to time. Although it might not be a lot, it can easily add up. A simple way to stay on top is to review those expenses quarterly.
