Today’s post is about me asking the readers for their help and input. I’ve been following a budget since February of this year and I thought I had this budget thing down and feeling good about myself in the beginning. But I ran into some hurdles when dealing with budgeting or not budgeting enough for gifts and other things that I forgot to consider.
Some of my readers commented that they have a misc. category for these unexpected items. So my question is what constitutes as misc. item in a budgeting world? I know budgeting is very personal and everyone’s idea of misc. category includes different things, but I just want some idea. I did sort of have a misc. fund built into my budget around $20.00 to buy those occasional laundry detergent or dry cleaning. But I didn’t include other things such as my hubby’s school books, gifts, and just things that come up in general I guess.
My next question is how much or what percentage of your income do you allocate to misc. category? I’m sure this amount depends on what’s actually included in the misc. category. My $20.00 misc. budget for laundry detegent and dry cleaning was fine, but I just didn’t budget for items that should be budgeted which caused me a headache.
My last question is if you don’t use up your misc. budget fund for the week or the month, do you continue to accumulate over time or do you put into savings or lump it else where? My other categories, if I don’t use all of it, I put it towards paying down my debt. It usually isn’t much, but it’s something. I don’t know if I should continue to grow it in case if some costly unexpected thing happens.
It’d be a great help if you guys can tell me what’s included in your misc. category, what amount or percentage, and what you do with left over for the month?