You don't know when you're going to be sick and need to see the doctor. That makes it tricky to include an allowance for medical expenses in your budget. Medical expenses are included under the category of "irregular expenses" in my budgeting approach. You save a regular amount each pay period into a dedicated savings … Continue reading Budgeting tip: Medical costs
When an electrical good suddenly gives up you can be faced with finding a tidy $1,000 or so to replace it. For many people this causes unwanted financial stress and can result in them funding the purchase through debt or other savings. Neither of those options is ideal.
For many people the word "budget" conjures feelings of restriction. (Just like the word "diet".) However a good budget should be the exact opposite. It should facilitate you having enough money for the things that really matter so you need not feel restricted. In this article I reveal a better budgeting technique using the model "Pay Yourself First (in practice)"