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What Are Your Household Expenses?


Many people think that their household expenses are those bills that come in regularly like electric, rent and car payments. It's true that these do form a great part of your expenses, but there are also many more to be counted. The weekly food bill of course is one of those things that must be paid or we don't get to eat, but you'll be surprised how you can cut dollars off the total once you take a good hard look at it.

Hidden Expenses?

Household expenses also include insurance, education, public transportation when used and clothing. Some expenses are hidden because they don't need to be paid on a regular basis like rent and car payments. These expenses include dental care, doctors, gifts at Christmas, birthdays or other social occasions. They may include sporting equipment, or even repairs or replacement for lost or broken sporting equipment. Household expenses can be as diverse as summer camp for the children, magazine or book subscriptions, a night out at the theatre, a family visit to a theme park or even that Popsicle you bought yesterday.

Impulse Buying

Household expenses also expand to include impulse buying. Maybe you saw a must-have bag, shoes or hat just yesterday, so you went into the store and purchased it. Maybe it was a new fishing rod or reel or the latest thing in lures. Whatever it was, that must be included in your expense list too.

Not everyone will have the same type of expenses. Some people may not have rent or car payments. Older people don't usually have expenses for education. To find out what your particular expenses are is easy. Just sit down and think of all the purchases you have made over the last three months. Go back 12 months if you can. But remember it's not just purchases made, but money paid out for everything.

Keep A Record!

It's important to keep records for all your expenses as you go so you don't forget what you've spent. There are very good and easy computer programs to help you with this job like Quicken, but you might be more at ease with a simple ledger that you can record your expenses and income on without the bother of booting up your computer.

If you have trouble keeping track of your household expenses, it may be a worthwhile exercise to take a course. Once you understand how to do this, you won't only be able to run your finances more professionally; you'll find it easier to meet payments when they fall due, simply because you are expecting them and have made the right provisions.



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