Budgeting for Unexpected Expenses
Looking at past expenses will give you the information you need to plan for future ones.
Step 1 Gather all of your bills and account statements from the past year.
Step 2 Read through each one and look for one-time expenses or ones that don't show up every month.
Step 3 Write down the expense, the category (car, health care, clothing, personal care, kids activities, etc.) and the amount on a worksheet.
Step 4 Divide the cost by 12 to determine your monthly savings goal.
Step 5 Add this amount to the corresponding categories in your existing budget.
Step 6 Make note on your calendar of the approximate month the expense will need to be paid.