Birthdays, Gift Giving, & Budget Busters! How To Swallow BIG Expenses
We’ve all had surprise expenses creep up at the most inopportune time!
The mini van starts to make a weird clunking noise. You’re air conditioning unit self-combusts. You thought Junior’s birthday wasn’t until March… and then you realize it’s March.
Planning ahead of time for those unexpected surprises can save you a tremendous amount of hassle.
Here’s an easy tip that will help you tackle those bloody budget busters. Plus, stash away some extra for charity, or personal gift giving (you know: those people you wish you could do something nice for but you’re too darn broke)!
Step #1
Make a list of all those budget busters that creep up yearly and estimate how much you think they’ll cost.
- For example:
- Christmas = $400
- Charity & gift giving = $300
- Car Repairs = $1,000
- Home Repairs = $1,800
Step #2
Now that you have annualized the cost of these expenses, divide each sum amount by 12 months to create a monthly savings plan that will ensure your budget is never again busted!
- For example:
Charity & gift giving = $150 / 12 months = $12.50 (to put aside monthly)
That’s not very hard is it? That’s 12 Great Gift-Giving Opportunities!
It’s easy to swallow big expenses when you take them in small bites. When you plan ahead of time, you wisely protect yourself against those surprises that will break your bank!
Have you ever been unprepared for a big expense? What are some other ways that you could save money for unexpected surprises, annual expenses, and personal gift giving?
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6. March 2009 at 10:34 pm :
To be honest….It looks so easy on paper, but when it comes down to it, there is always something that isnt budgeted. Saving is a hard word to follow…lol
6. March 2009 at 10:53 pm :
One thing that I do is “Keep a Stash” of little items that can be used for a gift, especially when in a pinch. These range from candles, and other smell good stuff, to lip balms, hand creams. I also keep a stock of all occasion cards, that come in handy when you might of forgotten about a birthday, or other occasion. I buy the box of cards at the dollar tree, 12/1.00 great deal.
Just a suggestion
6. March 2009 at 10:59 pm :
Each month, I try to put back at least $30.00 to give to charity, rather it be here at MicroGiving, or out in public, such as Salvation Army or to our local CASA.
I also try to give to the CFOA (Cancer Foundation of America).
There are several months where I can only give a bit more then $20.00, but I feel good in knowing that I helped.
7. March 2009 at 12:20 am :
I have been in the bad habit of doing number continuously in my head so when the unexpected starts piling up, I try and organize them on paper. Most of the time it works out, but when it doesn’t, it REALLY doesn’t! I do eventually get it together, but it would be so nice to break that habit. I guess my fear is that I will get lazy and dependent on other things like electronics, or organized book work. I do not want to lose my talent with numbers, but I can’t control the unexpected so something has to change~
7. March 2009 at 12:23 am :
Fortunately for me, I don’t spend unwisely and the only alternative is saving. But what can you save in times like these?
7. March 2009 at 1:05 am :
This is a tough one. Our family decided several years ago that we would not participate in gift giving exchanges. We don’t give our sons gifts for birthdays or holidays because quite frankly…there just is no way to budget for them. We do give to charity monthly if possible. If we saved up those funds to put towards personal gift giving we would not have much to give to charity so our family decides that we forego luxury and gifts and use our unbudgeted funds which is often just $10 or $20 to go towards the needs of others.
So…MicroGiving.com is in our gift giving budget and gets our left over funds. We don’t do the personal gift thing among family and friends.
People on fixed incomes rarely have little left over after their their basic needs are covered. The government allows you to exist…not move ahead. They want you to supplement this income, some can do that, most cannot so most in fixed incomes can’t budget in for gifts and charitable giving and usually rely on charity themselves for providing gifts for their young children at holiday times.
7. March 2009 at 1:24 am :
Becky you are 100% right about our goverment! We are here only to exist.
There’s month where you have to choose between buying food or paying a utility, it just doesn’t seem right.
7. March 2009 at 1:31 am :
I too agree with keeping it all on paper. I have a note book, that I keep on my desk and I record the money that comes in each month, and all that has been paid out.
The doctor bills are the worst for us, and next would be high utilities.
7. March 2009 at 1:41 am :
Just to give everyone a little chuckle…..
Darn those unexpected expenses that pop up! How dare they!
7. March 2009 at 2:22 am :
Sherri, it really does not seem right and many…so many just do not understand the lives lived by people on fixed income. I speak mostly for the disabled and elderly people. Those who simply cannot increase their income. We do not live with everything handed to us as most seem to think. We barely…just barely exist.
People have the wrong idea about Supplemental Security Income, it’s a grand total of $657 that is the ONLY cash income you have. You might if you are lucky get $100 in food stamps if nobody else lives with you and brings in some small change, but even with food stamps you are talking about living, taking care of every single Basic need PLUS your extra needs for disability on less than $1000 a month.
Yep, you will get a state medicaid card that covers ONLY basic health care. No, you don’t get every single thing you need. You get what will keep you alive and keep you safe because they don’t want to be paying out ER fees all the time. You don’t get quality of life stuff.
Those on fixed income are FIXED in a position where they really cannot ever get ahead unless they “shack up’ with someone who has an income that does not count against them, then their cash income truly is Supplemental…but only supplemental to someone else’s income.
7. March 2009 at 3:35 am :
“…usually rely on charity themselves for providing gifts for their young children at holiday times.”
That reminds me of one turning point in my life where I was in the Dominican Republic visiting my sister. I knew I would be there for Christmas and I had been wanting to distribute toys at a local adoption/foster home. We didn’t have much to give, but gathered unwanted toys for the first 2 weeks I was there. Surprisingly, we had quite a collection coming from such poor individuals and my sister warned me the home we were to visit was not going to be pretty. A home of unwanted children in a third-world country if you could imagine.
So Christmas day we took the toys in to the hole in the wall home. It was 3 stories tall on a main street in Santiago. Trapped between buildings, on the verge of collapsing, it stood there unmaintained. As we walked in, we found a care-taker who gave us some brief information. She explained there were 2 levels of care in the building: Partially Independent and Completely Dependent. She said we were welcome to go where ever we wanted. And the most crushing thing she told us was the story behind the home.
If a child is born into a family with a birth defect, the family can decide if they want to keep it or not. Most of the families will decide not to care for that child because it is far too difficult. That’s when the child is taken into the home. As we started our walk through the building there were hundreds of people of all ages. And I say people because they were not all children. Some of them came in as children, but the home was all they knew. I remember one individual who had been in the home since birth and was then 45 years of age.
So we walked. We were approached by some individuals, but the majority kept to themselves in a catatonic like state. One child, of what seemed to be early teens, just followed us the entire time. Every time we stopped in a room to let everyone pick an item from the bags he sorted through the items and selected nothing. I got the sense he was looking for a “holy grail” type item so I enjoyed helping him. Most everyone sorted through, grabbed 1 or 2 items, and carried on enjoying the used and broken toys thoroughly.
We saw infants to adults with every possibly defect known to human beings and we knew birth to early death was eminent in this environment. I felt so helpless knowing I could do nothing more for them. Even if I could, would they be able to mentally and emotionally accept it? Would they even want it? I had to control my thoughts and focus on the purpose of coming there so that I could bring a bright light to a dark place on a special day instead of letting them see how unfortunate they really were when they saw it in my eyes.
Finally, right before we were approaching the final 2 rooms, we stopped beside some beds in a hall to let the children in them search through the bags. The teen that had been following us again searched for his “holy grail”. I will never forget the moment his disfigured face lit up like an angel from heaven as he pulled from the bag a string. This string was attached to a broken plastic fishing pole about the size of a pencil. This boy who was the most active of everyone we encountered, ran happily through the entire building with his new (used) fishing rod. I’m not sure if he knew what it was or if he just didn’t know how it was to be used, but he was happy regardless.
I knew from that point on, I would find happiness in every situation no matter the circumstance. Seeing the joy of that boy gave me more than I could ever ask for. I may have had a rough childhood. I may have been misguided or mislead, manipulated or mistreated, but I have been given more than that boy. Anytime I ever feel down, I quickly correct myself thinking about the genuine happiness of “the boy with the broken plastic fishing pole”~
7. March 2009 at 11:36 am :
People are very understanding when they know you haven’t got money to donate..so what I do, is offer my services…I will offer to do sewing for free..haircuts,..housecleaning..
Many ‘little’ things that can make someone elses day brighter..I have even gone to my friends house and cleaned and made dinner (and even cleaned the kitchen lol) for them on a birthday..
I know that you can always find things in your house to donate,…call the salvation army,..or the Goodwill…and find things that you can’t really sell yourself, if you are wanting to donate to a charity..
Offer to lend an ear…and be there for your friends…sometimes, that support is worth more than money.
Research for them online, if they haven’t got a computer, or offer to write to the government, or an agency for them…if they can’t do it..
you’d be surprised, at how much this is appreciated!
7. March 2009 at 3:06 pm :
Joanna, these are great ideas! A servant spirit is truly beautiful!
Has anyone ever done a “gift-giving” service for you, that you can recall & really appreciated?
8. March 2009 at 12:23 am :
8. March 2009 at 2:15 am :
When I was really down, right after my husband left…my neighbors would come by and bring me a suprize lunch….I would have friends just call me and ask me to go fishing, they knew how much I loved that…
I remember when I was applying for Microgiving…I went to fax some papers to you guys..
the man who owned the post office place where I went, had remembered my and my husband..
After I faxed a lot of things…I went to pay him…
He knew I was heartbroken..
He told me, Merry Christman Early!! and didn’t charge me…just a little thing..but I was so touched that he cared…that ment so much to me, I started crying..
Just a kind gesture that meant so much..
9. March 2009 at 4:13 am :
JoAnna, it just goes to show how RAOK’S do make a great difference in a person’s life.
9. March 2009 at 4:42 pm :
We use to spend alot of money on birthdays and holidays but realized it was a waste. Some of the kids in our family didn’t even open some of the boxes of toys. The dollar store is great to go for gifts if you really enjoy giving gifts but don’t have the money to buy from the department stores or walmart.
26. March 2009 at 3:56 am :
Great Tips!
Being from a large family, purchased gifts are not what life is all about.
A gift from the heart, (that is everything) something done for someone, a phone call, and now email is terrific. It is the thought that counts! Louise
4. April 2009 at 2:49 am :
A gift giving service that was done for me is when my home was up for auction this last year Microgiving and wonderful people who helped in those rough months. I appreciate the kindness that so many have shown.
4. April 2009 at 2:52 am :
Since I work at a Flea Market I try to save all my change that I get to help with surprise things that come up. It is amazing how many surprises you can get in a year. Thank you for the ideas.
13. April 2009 at 12:25 pm :
You know thinking about this… I don’t really know how to budget a van that has 305,000 miles on it? I have tried to budget so many times but, since I don’t have a steady check and I have lost one of my best paying jobs I don’t know how to do a new budget. Just like at the Flea Market one week end you do ok and the next week end you make $20 in the whole week end. If anyone has any ideas I would sure appreciate it.
27. April 2009 at 9:59 pm :
Mj I hear ya.. its so hard to budget when there is nothing to budget with.UGH LIFE is hard … but it will get better…. it really will…for all of us