Expected & Unexpected Expenses
Many times people find themselves in financial trouble because they did not plan for emergencies. The best way to prepare for these is to set money aside from each paycheck in savings. Expected expenses are those that you know happen either weekly, monthly, quarterly or annually. Examples are groceries, electric bill, fuel bill, taxes and insurance to mention a few. Unexpected expenses are those expenses you did not see coming. An example would be going for your inspection of your car and not passing because there is something that must be repaired. This is something that can be included in your budget as part of your savings plan.