Do you know those who destroy your budget? Hidden costs in our daily lives – money and career

“Budget preparation does not mean sacrifices; Indicates a choice. A budget is a plan for your money that allows you to control your finances so you can have everything you want, whatever they are. Whether that includes strong financial security, the freedom to quit your job and travel the world, or the resources you need to buy your dream home and start a family, you can steer your budget to achieve the life you want. Words by Michele Cagan, financial manager, accountant and tax advisor, author of the book Save to Earn – Everything You Need to Know (Marker Edition).

In short, the work touches on an issue that affects us all: budgeting is an essential skill, “related to creating a plan to achieve financial security and prosperity,” the author writes in the work's introduction. Sometimes, we can make cuts in costs (especially those that don't benefit us) along this path; In others, it makes room for important life changes (like buying a home). “More than anything else, it's a way to eliminate the anxiety associated with money management,” writes Michael Kagan, who provides readers with the tools to acquire financial skills.

Below is an excerpt from the work:

Watch out for budget busters

Eliminate cash receipts

Budget busters often include auto-pay expenses or hidden fees that you're spending without realizing it. Prevent these expenses from draining your current account and stealing margin for your budget goals. They're often small expenses that you overlook or don't consider when looking for ways to cut back—however, these budget busters should be the first expenses you eliminate.

Like you're a detective, watch this money go away to eliminate them from your budget. You can find them everywhere, from maintenance fees for your checking account to late fees for books you forgot to return to the library. With some effort, you can eliminate these items that increase your expenses and put some limits on your budget.

Check your current account

Bank charges can drain your cash, especially when you don't pay attention to them. Most banks charge a long list of fees to customers' checking accounts, and these fees add up very quickly. Even worse: bank charges lead to even more bank charges when you don't count them. If you take a few simple steps, you can eliminate many of them.

• Monthly maintenance fee. Many banks charge a monthly maintenance fee if your balance falls below a pre-determined minimum amount. You can avoid these fees by making sure you always have a minimum balance in your account, asking the bank to waive the commission if you make a direct deposit for your salary, or switching to a checking account with no monthly fees.
• Commissions for overdrawn accounts. If you have a negative balance in your current account, you will be charged an overdraft fee. Account for anything that lowers your account balance, including automatic payments, checks, ATM withdrawals, debit card transactions, and bank charges.
• Commissions on undisclosed checks. If you deposit a bad check (meaning the person who wrote you the check doesn't have enough money to pay it), your bank will charge you a commission. Not only will the check amount not be deposited into your account, you will also be charged for the commission amount.
• Commissions on paper reports. There are now banks that charge commission for sending paper statements. Switching to electronic reporting would not only eliminate this fee but also save some trees from destruction.

In short: Banks charge commission for everything. Go to your bank's website and review the (sometimes hard to find) list of fees to find out how much the company is charging you.

Avoidable extra costs add up

Some costs are difficult to identify; We pay them and leave. Sometimes these are automatic payment costs; Others are small commissions charged from time to time. However, even small extra expenses can make a significant dent in your budget if you do them regularly, so it's worth taking steps to avoid them — and this is even more true when you ignore the big expenses.

Examples of avoidable overheads include:

• “Free Trial” subscriptions you forgot to cancel.
• Subscriptions to services you don't use (like the gym).

The biggest cost to avoid: late payment fees. Paying these fees is like throwing your money in the trash.

If you regularly miss payment deadlines, get into the habit of paying bills as soon as you receive them, or automatically pay the same bills each month. You can also set various reminders to help you meet payment deadlines, at least until you get into the habit of always paying on time.

Create barriers to spending

Apps and websites make it very easy to spend money carelessly. When you pay with your cell phone, you don't feel like you're spending money, and the same goes for one-click online orders. These “conveniences” are among the biggest budget destroyers, and eliminating them by creating barriers to spending makes it much easier to control impulse spending.

Examples of cost constraints are, for example:

• Delete credit card data stored on websites.
• Uninstall applications fee non-contact Your cell phone.
• Make it physically difficult to reach for your credit card.
• Withdrawal from Service Subscriptions reality (Like Amazon Prime).
• Disable payment with one click.
• Disable purchases using applications.

If you implement all or part of these prohibitions, it will be difficult for you to spend money without thinking about it. When you have to think about what you're buying for even a few seconds, you're more likely to put off the purchase and save money for something you really want.

Cost of pets

Most people grossly underestimate the cost of owning a pet, which can lead to budget headaches. If this is your first pet (or the first of a breed), you'll need to buy the basics. In addition to these initial one-time costs, you will have costs throughout the life of the pet.

First-year costs include things like food and water bowls, crates and crates, bedding and adoption costs. Daily expenses include food, vaccinations, internal and external deworming and toys. If you need to add expenses Sit pet downOr in the kennel, you need to budget a higher amount. And if your pet has a health emergency, medical expenses can be substantial.

If you have pets or are thinking about getting one, be sure to factor regular and potential emergency expenses into your budget. You may want to create a separate emergency fund so you don't have to reconsider the decision to take your pet to the vet.