Saving Money On Those Pesky Irregular Expenses

With the cost of living rising so much recently (I cannot believe my latest electricty bill!), it seems that life is getting more expensive than ever before. Eurgh.

It’s important to ensure you’re enjoying life – now more than ever after being inside for so long! – but the reality is that living is expensive and saving money is a lifelong goal for most of us. We can splash out on little luxuries every now and then, but as long as we can pay our bills and have a bit left over to put away, we’re happy! And budgeting month by month is a great way to save money in the long term, but from time to time, this very spreadsheet can fail you. Why? Because of those irregular expenses that come around every once in a while! 

Know What You’re Likely to Spend on

Irregular expenses only come around once in a blue moon, but they’re not entirely unexpected. Rarely are they emergency expenses you have to fork out for on the spot, and as such, you can still prepare for them in a small way. Most of all, you’ll be able to work out what you’re going to need cash for, even if it’ll be 4 or 5 months before the expense occurs. 

Sit down and list out your irregular expenses. Car or home insurance, for example, are such expenses. Home maintenance costs will also count here. Anything you know you’re probably going to have to pay for this year, but not on a regular basis, should end up on the list. 

Check if There’s a Voucher Available

If you’re shopping for a big purchase, such as a TV or washing machine, you don’t have to deal with the upfront cost entirely on your own. In the modern world it’s much easier to track down a voucher code or a coupon, especially with the use of automated extensions that do most of the hard work for you. 

Not only that, but you can also sign up to websites that provide you with free offers on a regular basis. If you’re in need of a new phone deal, for example, getting an email about Free Sim Cards on a Friday morning can be the silver lining of a bad or expensive week. And seeing as joining a mailing list is completely free to do, you’ll just have to put a bit more effort into managing your inbox! 

Have a Savings Account Just for Irregular Payments

Finally, it’s a good idea to make sure you’ve got a pile of cash on the side for dealing with irregular payments. You’ve got your usual savings account, yes, and you’ve got your checking account that the monthly bills come out of. 

But if you can set up a specific pot for the big expenses you don’t include on the usual budget, you won’t even have to worry about them in the first place. Most banking apps now allow you to set up savings spots for reasons like these, so log in now and see if you can create one. If you can, put away around £20 a month for the next 6 months and go from there. 

Irregular expenses can be incredibly annoying, but hopefully this post will help you have some foresight for them!