Melcar Group

Budget Guru

What is a Miscellaneous expense?

What truly is a miscellaneous cost in terms of creating a budget? There really is no right or wrong answer; it is more what works for you. It is important to build your budget so that there is structure and definite categories to ensure you stick to the plan. Being a budget guru, it is my passion to create and maintain complex budgets that allow users the freedom of simply recording their expenses in the appropriate column while sustaining a comfortable life.

Generally, a miscellaneous cost is something that is not a repetitive expense. For example, food should never be found in the misc category; rather it should be an item like going to the movies. Miscellaneous is meant to provide a little bit of extra money for your budget period if something comes up during that time. Some examples of items that should be included in the misc category are as follows:

1. Clothing
2. Makeup
3. Personal hygiene products
4. Lottery tickets
5. Coffee/Beverages
6. Gifts (Birthday, anniversary, graduation, etc.)
7. School supplies
8. Salon/Barber expenses
9. Restaurants/CafĂ©’s

Buy watching your miscellaneous expenses, you can really slim down your spending and create the opportunity to save more money. This is not to say that you can’t do anything fun or rewarding for yourself, you just have to plan and budget for these events.

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March 2, 2009 - Posted by | Money Basics

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