For those of you who have read this blog for a bit you will most likely get the idea that I like the notion of personal finance. And that is true I LOVE personal finance. I love talking about investments, strategies to get out of debt, hearing about people’s success stories, reading other inspirational blogs (check out the blogroll, which I also need to update because there some other great blogs out there), etc.
However, there is one thing that I don’t like: Budgeting. I hate budgeting. I think the only person who hates it more than I do is Mrs. ROB. The truth is I don’t have a hard and fast budget where I mark every dollar, etc. Maybe I should because I know our general expenses and I know what our income is to meet those challenges.
The problem that often occurs every month is unexpected expenses. Every month I keep saying that I can’t wait to get back to normal (e.g. house payment, food, electricity, gas, debt payments, etc). But every month there is something that comes up whether it be taxes, car registration, medical bills, etc. And every month these little items bleed our budget like death by a thousand cuts. So when I think that I might clear a couple of hundred bucks I have to some kind of dental work done (which is what I am doing now, which will cost me about $300). I hate these little expenses they drive me nuts.
How I Should Deal With It?
The truth is I don’t have a specific plan. I mean I could have a miscellaneous category in my budget, but that would mean I need to get down to a zero-based budget. I need to lay out those expenses ahead of time or put much more thought into what will happen for the next month.
So how do I deal? Right now, I just pay the bill, try to mentally work it out, and hope to find a little bit of dinero to cover those expenses.
How should I really deal with it? I need to take Dave Ramsey’s advice and create a zero-based budget because there is NO such thing as a normal month. Every month is going to have these little expenses that pop up like oil changes, medical bills, a gift for a friend, etc. And because every month is different and unique I need to do a unique budget for every month.
So the answer to the question how do you deal with unexpected expenses is: Make a Unique Budget every month. I know it sucks but I need to start to sit down with Mrs. ROB and better plan out our expenses and maybe set aside a little bit of money to make sure I have those expenses covered because some of them I can predict, some of them I cannot.
So it is time to do something I don’t like personal finance and that is creating a much more defined, detailed budget than I have before. If I don’t do that these little expenses are going to drive me crazy.
Any other ideas?