When I first came up with my budget couple of months ago, I tried to include extra costs for events that I anticipate to spend more money than our usual week, such as family member birthday, holidays, and etc. to those weeks. I did try to keep it to a minimum and thought it was quite doable. But I’m already finding out that I didn’t budget enough for gifts on other friends and unexpected events.
Let me explain furthur on how I made my budget. Since my hubby and I both get paid every other week and the incoming cash don’t line up neat and pretty with when our bills are due, it was easier for me to break all the weeks down to budget ahead to figure out how much we have to spend each week to have enough for the next bill and not be overdrawn. Does that make sense?
So our normal weekly budget is $400, but on a week that has let’s say my brother’s birthday, I added extra $150.00 and made it $550.00. You might say, “Why don’t you just change the amounts again to add some cushion?”. This is not a hard rule that needs a council meeting to change or anything. But the reason I don’t want to make changes to my budget is because this would mean that my anticipated savings or anticipated extra debt payment will have to be reduced. I guess if I budgeted like that from the beginning I would’ve been okay with it, but now that I’ve been looking at a certain number for awhile, I don’t want to lower it.
You might also say, “Why don’t you be more frugal and save more to make room for it?”. Yes, that would be ideal, but we’ve already started falling behind with my hubby’s school books and my skin care. I just purchased a couple of items and didn’t buy the drugstore brand this time. Read Should You Skimp on Skincare to find out what I’m talking about.
So, I’m going to leave my budget as it is for now and just try to be more frugal for a few weeks and see how much I can catch up. I might just have to skip some friends’ birthday gatherings. We do have another wedding that we got invited to (not for a few months), so I’ll try to put aside money for that. I’d rather skip a birthday party than a wedding.
How much do you guys budget for gifts? How do you make up for the money overspent due to unexpected expenses?