Spent your budget, unforeseen costs and how short term loans can help

How easy is it to over spend on your monthly budget? We know that if you don’t have a savings or an emergency fund, things like clothing purchases, unforeseen medical bills and repairs can wreck your budget fairly quickly.

In this article we look more closely at the hidden costs that you think you’ve accounted for like eating out or buying lunches at work, items we tend to lump together under “food and groceries” yet they are the sneaky foxes that inevitably blow your budget. Even eating out once a month needs to be factored into the budget in order to avoid a shortfall at the end of the month.

Pick-me-up spending;

This is spending that you do on a regular basis just to help get you through the month. Be it a coffee date, DVD rental or a soda and a candy bar on your way home from work. It may be less than £5 but it’s spending that needs to be accounted for or budget blown!

Annual payments;

Here’s something that almost always slips our minds until the bill arrives - annual taxes, vehicle registrations and back to school expenses. One easy way to plan for these items is to add up the total you paid in the last year and then divide it by twelve. Set aside this amount each month so you will have money to cover the upcoming bills.