It’s easy to forget about things when you’re putting a budget together. Unfortunately, unexpected costs can arise from time to time, and they can essentially ‘break your budget’ if you don’t have something to fall back on.
Although things like Mercedes Benz servicing can be expensive, unexpected breakdowns and repairs can be a lot harder to pay for. It’s therefore important to keep them in mind when you’re putting together a budget, and make sure that you include them. Put it this way: it’s a lot better to have money left over at the end of the year than to run out of money when you need it.
Consider the following things to help you budget for unexpected costs:
Use The 1% Rule:
The 1% rule is an old budgeting guideline that involves putting aside 1% of your income every week for unexpected expenses. Although it works, 1% isn’t a lot, and it may not give you enough savings to pay for large repairs.