How to take control of “miscellaneous” expenses

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This topic contains 2 replies, has 3 voices, and was last updated by  Veronica Combs 4 years, 3 months ago.

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  • #947 Reply

    It’s hard to manage our expenses when we don’t know exactly where the money is going. With this in mind, here’s a tip for tackling the category of expenses we lump together as “miscellaneous”: break the category into clearly identifiable pieces that you can then manage separately.

    No, you don’t need to analyze every little miscellaneous expense, but if you’re looking for places to save, there MAY be some regular expenses buried in this category that are worth a closer look. For example, if you find yourself buying birthday or shower gifts for coworkers every month, it’s worth looking at that yearly total. It may be pretty significant.

    Even if you decide that gifts for coworkers is a necessary expense, creating a separate line item in your budget for it will help you be mindful about that expense and, if necessary, cut back in other areas that are less of a priority.

    #1232 Reply

    VC

    This is actually my least favorite part of budgeting. I do tend to lump too many expenses into “misc” which makes the category meaningless.

    When I try to be more specific, I end up with way too many categories.

    Still looking for the right spot in the middle between the two extremes.

    #1285 Reply

    This is actually my least favorite part of budgeting. I do tend to lump too many expenses into “misc” which makes the category meaningless.

    When I try to be more specific, I end up with way too many categories.

    Still looking for the right spot in the middle between the two extremes.

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