that should be included in your monthly budget.

dave ramsey calls it a sinking fund,

here is my list of annual things i budget for:

oil change
car maintenance
computer replacement
new car fund
optometrist
vet bills
xmas
car registration
insurance-health
clothes
Birthdays

Do you include these in your monthly budget? OR just whenever they turn up you find the money for them?


I'll be honest.. I don't plan for these things, only oil changes... however i'm starting in 2009! it will be about $200 a month, money well spent to me.

I include those in my "other" fund, which i add 200 a month to regardless if any of them come due or not.

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Let's see ...

~ house repairs and maintenance

~ life insurance - the policies renew every year so the bill shouldn't surprise me.

~ holidays (not just Christmas)

~ vacations or semi-required family visits

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"I've been rich and I've been poor but independently wealthy is where it is at."

We add these big bills up, divide the total by 12, then automatically transfer that amount from checking to savings each month:
Homeowner's insurance
Flood insurance
Property taxes
Auto insurance
Car registration

I think most people have homeowner's insurance/property taxes included in their mortgage payment, but I don't trust that system, so we pay those bills on our own--and make interest all year on the savings.
Our health insurance premiums are automatically deducted from my husband's paychecks, so I don't budget for that.
We used to just scramble trying to find money for these big bills, but we've worked hard to work the necessary budgeted amounts in as my husband's salary has increased, instead of bumping up luxury categories (restaurants/clothing/etc.) It's a huge relief to know that when these bills come due, we have the money to pay them.

Some I budget some I just pay, depends on the amount. If it's more than $500 I budget it otherwise I just pay it when due.

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A woman is like a teabag. You never know how strong she is until she gets into hot water.-Eleanor Roosevelt

We have a set amount that is put into a separate savings account each payday that we use for auto insurances, home insurances, and property tax.

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SAHM to 4 rugrats

I am SO glad you asked this! I was just downstairs discussing budgeting (or the lack thereof ) with DH and I told him that is my drawback, knowing how to budget for those unknowns. For some reason, the setting aside a chunk every month hasn't occurred to me.

So you all think that is good? What about for vet bills & the like? Should we have a bit more?

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"When we are no longer able to change a situation — we are challenged to change ourselves."
— Victor E. Frankl

I've just started getting the budget figured out and have just been pulling some out in a lump "savings"- I probably should separate it better- It's so much to think about-but so necessary!

You should see the crazy categories on my budget that I plan for and save for each month.

I plan for gifts, school supplies, average child care expenses, scouting, sports, piano, car repair, home decorating, home repair, insurance, taxes, tuition, pest control, vaccations, birthday party expenses, and I still have an "other" category.

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Grace

Wife to Stoney

Mommy of Sarah (9), Hannah (7.5), and John(5)

Well if I may, I'm going to use the list you have made. That's fantastic! Do you put each in its own account or in one big one and just earmark each one. I'm scared I'll overuse one and not have enough for another. Of course I could just go into the "other" category.