Budgeting money is an ongoing daily activity. If we don’t routinely monitor our spending, we’ll find ourselves continually running short. So while day-to-day receipts and bills are important, we also need to keep our eyes to the horizon. Certain costs only appear seasonally. They can sneak up on us and ruin our budgets if we’re not careful. In particular the following spring expenses could trip you up if you’re not on the watch. Begin budgeting for them now.
Taxes
Death and taxes – the two things we can always count on for sure, right? While you may not owe income tax in the spring, you still need to budget for costs associated with the upcoming tax season. This may include but is not limited to tax software to file your taxes or accountant’s fees. In the state of Indiana, property taxes are due during the month of May, too. The tax man cometh; be ready.
Kids’ Sports
Eventually the snow will melt. Before you know it, tennis courts will be full. The baseball diamonds and soccer fields will again have athletes ready to make the most of every play. Kids’ sports are a great way to keep your family activity and learn lifelong lessons. But there are registration fees, equipment expenses, and sometimes even travel involved. You may be on a winter hiatus right now, but it’s the perfect time to beef up your budget so you can afford all of the fun. Start saving your pennies now.
Summer Camp
Last summer looked a little different, but there is a possibility we’ll see the return of summer camps – both day camps and overnight experiences – return this year. Again, these fun experiences for kids (and sometimes essential weeks for working parents) come at a cost. Go ahead and investigate how much summer camp might set you back this year. If prices haven’t been listed yet, you may be able to get a good estimate by looking at how much you’ve paid in the past. Go ahead and look for coupon codes and discounts for multiple kids from one family, too.
Auto Insurance
Some consumers elect to pay for their auto insurance each month. But oftentimes discounts exist for those who choose to make annual or bi-annual payments instead. And such bills typically rotate on a spring/fall cycle. By the way, this is also a great time to reach out to your insurance company to make sure the coverage and provider you’re using is still the best fit for your life and budget. Sometimes new programs or discounts come online and if we don’t ask, we won’t know. For this reason alone, an independent insurance agent can save you hundreds and even thousands over the course of your lifetime.
Travel
Again, spring and summer travel may continue to be a little atypical for the majority of us. However, as the temperature warms, there will be opportunities to take day trips, camp, or maybe even rent a vacation home soon. Start saving now for your future fun. Even if you don’t end up traveling as soon as you’d like, the money will be there waiting for you when things open back up.
Yard Expenses
It’s hard to imagine an expanse of green under all the white in my backyard right now. But spring really is just around the corner. That means we’ll have extra necessary expenses related to lawn care and maintenance. But it also means that I’ll want to purchase spring and summer flowers to accent our yard. You may even want to purchase some new patio furniture. Think ahead by looking back at what you’ve spent in past years, while evaluating what may need replaced this year.
The book of Proverbs encourages us all to “see trouble coming” and prepare for it or get out of the way. While none of us can predict the future, we can look to past experience to predict what expenses may be coming our way in the spring. You don’t have to be caught off guard this year. Prepare for the days ahead before they arrive.
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