August Budget Expenses You’re Probably Forgetting
August is just about here – it’s next week at the time of writing!
The kids are out of school, warm weather is here to stay, and you probably even have a vacation coming soon!
Even if you don’t have kids, there are many summer only expenses that happen in August that you don’t want to miss!
Here are some expenses to put into your August budget:
High Utility Costs
With skyrocketing temperatures comes even higher utility bills for air conditioning. Unfortunately, you don’t know exactly what you bill will be until after you use the energy, so it may be a good idea to double your normal budgeted utility amount until you get the bill.
Again, this is mostly if you have kids. Summer means lots of activities: the pool, camps, meeting up with friends, community events, etc – which means you will need to budget for extra gas. Add that to rising gas prices, and it’s incredibly important to increase your gas budget during the summer.
Back To School
Everyone is so excited for the kids to be back in school – well, except for the kids themselves – but don’t neglect to budget for fulfilling those extensive school supply lists. From bigger items like books, backpacks, laptops, and calculators, to small items like pens, pencils, highlighters, and markers, the whole back-t0-school shopping experience can cost a pretty penny.
Get a list of what you need from the school (most stores in your area will probably have a kiosk with local schools’ lists – then shop around using sites like Passionate Penny Pincher to find the best deals on everything they need.
And, if you find you have a bit of room in your budget, consider picking up a few extra supplies for the general classroom. Many children’s parents cannot afford school supplies and the teachers end up personally picking up the tab for these supplies. Even a few extra packs of crayons, notebooks, or expo markers are a wonderful way to help your child’s teacher out.
Sports & Lessons Registrations
With fall and back to school comes fall sports, music, and other lessons. Prepare ahead of time for registration fees, uniforms, supplies, instruments, equipment, and even extra gas for necessary travel.
Labor Day Weekend
Yes, I know Labor Day isn’t until September, but it’s the first weekend in September, which sometimes turns into a long weekend starting in July. Regardless, I don’t want you to be surprised by the cost of celebrating Labor Day. Save some money in August so you can have a relaxing, fun (read: no money stress) with the family.
Summer Clearance Stock-Up
Stores will be starting to clearance out summer wear like shorts, tank tops, swimwear, and sandals. Wait for a coupon, then shop the clearance racks for next summer by estimating your child’s size next summer and get a head start on their clothes and your budget.
Christmas Sinking Fund
It’s August, which means we’re more than halfway to Christmas. If you haven’t started yet, create a sinking fund for Christmas. Then, watch for Christmas Deals so you can shop the best prices on gifts for everyone between now and December 25th.
Making a budget for the back-to-school months can be challenging, I’ll admit, but it is absolutely possible to be prepared. It is important to think through all aspects of these months so that you can enjoy them guilt-free and debt-free!
What other expenses might you be missing from your August budget?
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