We have a BUNCH!!! We do what I like to call ANTICIPATORY budgeting and set a great deal of money back each month the cover these upcoming expenses. It is work to make it happen but yet it is working for us!! Has been tight but do-able. This is just off the top of my head, surely I'm forgetting something???
Tithe
LT Savings (gets funneled to retirement as it builds up) - held until then in Money Market Account.
ST Savings (for those little projects and WANTS that just don't fall anywhere else also in MMA)
Roth IRA - His
Roth IRA - Hers
Life Insurance - His
Life Insurance - Hers
Long Term Care Insurance - His (we've yet to purchase his or hers but I've been saving back for both of these to make sure I can handle the premiums on a continuing monthly basis before we jump off and get ourselves hooked into a committment.)
Long Term Care Insuarance - Hers
Mortgage
House Insurance
House Taxes
Plumbing/Heating Repair
Lawn Care
Car Repair
Car Battery
Car Tires
Car Tag
Car Insurance
Car NEXT Savings (this is sublimated right now as we have a 2005 car paid for and a CD put aside for the next vehicle)
Truck Repair
Truck Battery
Truck Tires
Truck Tag
Truck Insurance
Truck NEXT Savings (again sublimated as we have a 2001 truck paid for and a CD put back to replace it - after FIL house sells I'll be continuing this savings.)
Telephone
Water
Gas
Electric
Cell Phone
Cable
Groceries
Household (laundry detergent, paper goods, shampoo, trashbags, lightbulbs, etc.)
Allowances/Spending Money
Gasoline
Holiday Travel - cash for getting to/from holiday events M.Day, F.Day, birthdays and year end celebrations)
Gifts
Clothes
Vacation
Timeshare Taxes & HOA fees
Kitty (cash cushion in checking)
Miscellaneous
Furniture/Appliances
Carpet
Paint
Roof (maybe in another 5 years or so one will be needed here)
Driver's License Renewals
Weddings Savings (two unmarrieds still at home wherein there could be weddings announced at anytime)
Savings Bonds Savings (I save here until I can pop off 100.00 at a time)
Certificates of Deposit Savings - (again saving build up to go towards when I have enough to pile it into one.)
Exterminating
Veterinary
Tax Preparation
Entertainment
Books
Prescriptions
Med/Dent/Vision CoPay
Office Equipment/Electronics
Postage
Haircuts (mine - his come out of his allowance along w/his cigs)
Club Dues/Mag Subscriptions (ex.: AARP is .90 a month to put back in order to renew every three years! YES, I am that anal and money has been that tight here lately! Plus 35.00 for investment club dues)
DRIPS:
drip1)
drip2)
drip3)
Bank Fees/Check Printing
Sales Tax Slush Fund
Let us also say that we have a very nice lifestyle on very little money and I sacrifice here and there to make it happen. There are still things that are in my budget that could be cut to loosen the threads but I like my life and don't want to cut anything else right now!
Will be going back to employment myself in the near future and anticipate a slight general loosening with a major mindset of sticking back at least 75% if not more of any income I make into retirement savings and wealth building!)
Many people ask why I don't lump all car expenses together - I like to be able to see where I'm at....if new tires are needed in February 2007 and I've been saving 45.00 a month back for this category and Hubster thinks we'll need 450.00 to be able to pay cash then if it's December '06 and there is only 375.00 in that category then I need to up the savings payments towards that specifically.
With each item set out in a separate line item when the target is reached and a date set - (ex: truck battery target $50.00 estimated timeline when needed is May 2008) then when the target amount is reached or near enough to that time and interest will take care of the balance then I go on to taking that monthly allocation to another underfunded category. Let's say in this example when I reach $46.00 in this account by November 2007 I will stop putting any more into monthly and let time and interest catch it up to $50 being there and ready to pop when I think I'm going to need to replace it. Hope that's clearer than mud!
And when the car insurance goes up and the truck insurance stays the same I get all confused and brain farty and don't put enough back and have a mess. If it is separate I can just adjust the one thing and don't have to remember what I was saving 400.00 a month for in the 'vehicle' expense department. Sure it might still be 400 a month, but I can better keep track of each little breakout. Other people have bigger brains for these small details but they get lost in mine!