Even if you and your financial advisor in Philadelphia have taken ample care in creating your budget, you may find that some unplanned costs can still sneak up on you. These expenses can be:
It’s deeply satisfying to see perfectly wrapped presents nestled under a Christmas tree. Unfortunately, wrapping paper, tape, ribbons and bows aren’t free.
When it comes to buying a gift, the cost of gift wrap can add up quickly. In fact, Americans spend billions on wrapping paper and related accessories.
Holiday Party Items
Most people don’t budget for holiday parties. They often go to the store with a list of items and buy without taking their finances into account.
Recognized financial advisors in Philadelphia say that a better approach is to create a budget before coming up with a shopping list. Working within a budget can keep your spending at bay. This will force you to be more thoughtful about the items you’re placing in your cart.
Road Trip Food and Entertainment
When people travel, they always think about travel and lodging, but most forget about food and entertainment expenses. To prevent ruining your budget, bring your own food if possible, or shop at supermarkets along the way and avoid eating at restaurants.
Recall your total expenses during your previous road trips, and then budget accordingly to prevent any surprises.
Take car depreciation into account if you’re driving a long distance to a relative’s house. Engines only have several miles on them, and tires wear out with every city limit.
If you travel 1,000 miles in your car this season, you’ll have to replace your car 1,000 miles sooner. This distance equates to nearly a month of wear and tear on your car, which can set you hundreds of dollars back.
From wrapping paper wrapped around presents to snacks gobbled up during long car rides, make sure to account for every single expense this season. The more control you have over your spending, the merrier you’ll be this time of year.