When creating a budget, it's common to account for major expenses like rent and student loans. However, tracking those smaller, often overlooked expenses can be challenging.
Here are five sneaky expenses you should consider:
One such expense is crowdfunding. This modern form of funding can sometimes feel more like a charitable donation than a simple preorder for a product, making it easy to forget about in your financial planning.
To effectively budget for crowdfunding, consider this: your contributions come from your discretionary income. If you only occasionally back a project, allocate those funds from your fun money. However, if you're a regular supporter of various initiatives, treat crowdfunding similarly to a hobby by designating a specific category within your budget just for this purpose.
By recognizing and categorizing these sneaky expenses, you'll have better control over your finances and avoid any unwelcome surprises.
