26 May 2019
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10 Most Ignored Expenses That Could Ruin Your Budget

Always struggling to maintain a budget, yet ending up with additional expenses? Trying hard, yet unable to match up to the budget list? If you are going through such a dilemma and striving hard to maintain a strict budget, then you are in the right place.

 

Throughout the month, there are some unseen expenses that ruin your budget. If not fixed at the right time, you will eventually end up with a pinch on your personal finances throughout the life.

 

 

We cannot cut off on the basic expenses, agreed! However, we cannot deviate from the fact that savings are equally important for the long run.

 

Spending on additional loan interests during emergencies is a complete NO! Hence, as the saying goes, “Better late than never”, evaluate your expenses and put a full stop on overspending right away.

 

Tip: We often tend to ignore the unnecessary expenses that ruin our budget. However, being a little attentive to the expenses can help us save a lot in the long run.

 

10 Overlooked Expenses That Ruin Your Budget

 

#1. Subscriptions

 

In the era of online web series, almost every one of us has a subscription to various platforms like Netflix, Amazon Prime, etc. Besides, a number of people also have subscribed to various monthly magazines, may it be science or fiction, well-being and many more.

 

However, if we give a thought, do we really read all the magazines or do they just end up in the pile? The busy schedules and the constant rush often get us caught up in one work or the other, leaving us with no time for recreation.

 

The amount summed up will eventually lead to the neglected expenses that can ruin your budget. Hence, be wise to choose what you actually need and “only” invest if you are ready to commit!

 

#2. Credit Card Interests

 

The craze for credit cards can actually add up to the expenses that ruin your budget. Credit cards are often mistaken as a savior when we badly want something but are left with no cash.

 

 

The minimum interest rate which seems to do no harm at the time being will actually be huge if saved for the long run.

 

Using credit cards can be so addictive that people keep on taking credit loans quite frequently without realising that the amount is eventually leading to a huge financial ruin.

 

#3. Electricity Bills

 

Remember the times when you forget to turn the switches off? The constant functioning of fans, lights, bulbs, when not required, actually leads up to the expenses that ruin your budget.

 

Besides, constant use of air conditioners also adds up to the flame. Check the temperature and decide, whether you really need the AC. If not, switch on the fan and be comfortable.

 

Always keep a check on the switches connected to appliances so that you do not find yourself overspending on the basic amenities.

 

#4. Unnecessary Shopping

 

Let’s take a deep breath and admit that shopping REALLY leads to overspending and causes the biggest financial ruin.

 

 

Remember the red top spotted on sale or the ripped denim that is in trend, or the clutch from Zara you had got? Well, these are simply a drop in the sea of shopping we put our money on.

 

If you ever calculate the amount spent on shopping every month, it might eventually sum up to double the amount you wanted to save!

 

#5. Automobile Maintenance

 

Automobile maintenance might be one of the most neglected expenses that can ruin your budget. Small technical glitches or repair are usually neglected and saved for bigger damage.

 

However, the bigger damage eventually leads to a bigger hole in our pocket. Hence, paying attention to necessary repairs at the right right can save us from the financial ruin later in life.

 

Remember: You cannot completely check your expenses no matter how attentive you are. However, you can definitely take up a part-time job to enhance the savings.

 

#6. Frequent Parties

 

How many of us have the habit of partying and celebrating? Almost all of us! If not by booking a gala lounge, many of us end up treating our friends every now and then. It has emerged as more of a trend than a necessity, which undeniably results in a financial ruin.

 

Sometimes, these parties are more frequent in a month than expected. What seems a healthy “fun” actually leads to neglected expenses that might ruin your budget.

 

The best way to avoid this is by minimizing the frequency of parties and indulging in small get-togethers, if important.

 

#7. Pet Care

 

No matter how harsh it may seem, pet care does add up to expenses that ruin your budget.

 

This usually happens in cases of neglected pet care. The pets often need care and attention, the lack of which might lead to build-up of diseases and overspending at the end.

 

Hence, take care of your furry babies and make sure you do not compromise on both their health and your budget.

 

#8. Phone Calls

 

Those long hours of chit-chat with your best friends or the never-ending post paid phone bills are one of the biggest reasons of financial ruin.

 

We often lose track of time and bills while gossiping about people in our near circle, and ponder at the end of the month. To avoid this, keep a track of the time spent on phones and put a full stop on overspending.

 

 

#9. Convenience Fees

 

Whether it is for shopping from finance companies or traveling in trains or planes, a huge chunk of our budget gets counted among the neglected expenses that ruin your budget.

 

Hence, double check the convenience fees charged by the agencies and choose a cheaper option while traveling.

 

#10. Account Maintenance

 

Maintaining multiple accounts is not only stressful and hectic but also adds up to expenses that ruin your budget.

 

The charges are usually different for different banks and thus one should definitely be wise in choosing where to keep their money safe. A cheaper alternative will actually help you save a lot in the long run.

 

Warning: Make it a habit to calculate the earnings and never miss out on the expenses, no matter how small it is.

 

Wrapping It Up

 

Expenses can suck, however that should not stop us from investing in the things we genuinely need.

 

Although we tend to indulge in overspending, yet we can easily change this habit with a little self-control.

 

Investing in a comfortable lifestyle is no crime, but one should definitely plan for life after retirement and save accordingly.

 

Expenses That Ruin Your Budget

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Gaurav Jain
Article by Gaurav Jain
Hey There! My name is Gaurav Jain, a full time affiliate marketer since 2007. The reason for starting eMoneyIndeed.Com blog is to help you Save & Make Money Online. I write about Blogging, Online Marketing, Webhosting, SEO, Affiliate Marketing, Startups, Social Media, Email Marketing and more. Hope you enjoy the posts on eMoneyIndeed.com

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