Periodic expenses are costs that occur on an irregular basis rather than monthly. Here are some examples of periodic monthly expenses you may have: \u00a0<\/p>\n
Once you have identified your periodic expenses, break them into monthly amounts. \u00a0<\/p>\n
\nExample 1<\/h4>\n
Last December you spent about $420 on holiday spending. You purchased things like gifts, wrapping supplies, decorations and food for parties. This year you want to have that money before the holiday season begins. To figure the expense as a monthly amount take $420 and divide by 12 (the number of months in a year):<\/p>\n
$420 \u00f7 12 = $35<\/strong><\/p>\n
Include $35 as your monthly holiday expense in your monthly budget. Stash that money an account separate from the account you use daily, so you\u2019re not tempted to use it!<\/p>\n<\/blockquote>\n
\nExample 2<\/h4>\n
You pay $620 every six months for car insurance. To figure expense as a monthly amount take $620 and divide by 6.<\/p>\n
$618 \u00f7 6 = $103<\/strong><\/p>\n
Include $103 every month as your car insurance expense in your monthly budget. Stash that money in an account separate from the account you use daily so it\u2019s there when you need it.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"
What are periodic expenses? Periodic expenses are costs that occur on an irregular basis rather than monthly. Here are some examples of periodic monthly expenses you may have: \u00a0 How do I incorporate them into … Continue reading