Watch out for these budgeting mistakes

If you’re having trouble making your budget work, you may be making it more difficult than it has to be. If you’re budgeting for the first time, here are a few mistakes you might be making…

Not expecting the unexpected: Stuff happens. If you haven’t planned for the possibility of an unexpected expense, you might find yourself with a pile of debt. Make sure that your budget includes building up your emergency fund and you’ll be in a lot better shape when something unexpected happens.

Estimating too much: It’s pretty easy to factor in most of your bills when it comes to your budget. Your mortgage and internet bills probably don’t change a whole lot from month to month. But what about other items, like groceries? If you’re not paying close attention to what you’re spending on food, your budget can really get away from you.

Leaving stuff out: When you started your budget you probably made a big list of all of your expenses each month. But did you really remember everything? Did you include that cup of coffee you like to grab after lunch every day? Your Tuesday night trip to the movies? Beers on Friday with your friends? These aren’t things we really think about when it comes to our budget, but they should be.

Less frequent items: It’s easy to remember the 10 bucks you have to pay for your gym membership each month, but have you factored in the yearly fee that’s due once a year? If you’re having trouble remembering these less frequent bills, you need to find a way to keep them on your radar.