Don't forget these key items in your May budget
It might not seem like you’re spending a lot on items outside of monthly household expenses, but once you put a spending plan together and understand where your money has been going, you might find a different story!
May can be a season of change and chaos, but don’t let these seasonal expenses surprise you!
Photo by Cristin Goss of GossBoss
1) Mother’s Day - It’s early this year and feels like it’s sneaking up! Mom just wants to know she’s appreciated - you don’t need to spend a lot to show her you care. Flowers, chocolate, or a fun pair of earrings can be a great little gift to make mom smile. Check out some of your locally owned stores and talented entrepreneurs for truly unique and special ideas.
2) Graduations - Think pre-school, kindergarten, middle school, high school, college, etc. The list goes on and on for how it could possibly affect your budget if you have someone close to you in this position. The Automatic Millionaire and The Simple Path to Wealth both make excellent gifts for graduates.
3) Memorial Day - Memorial Day can affect your pocketbook in a few different ways. With it being a short week, you might have a day lost of pay, or added expenses with kids needing to stay home. Other factors can be travel costs and additional food if you’re having a little get together or taking food elsewhere.
4) Summer Camp - Registrations are starting to open again, and while summer camp might be a little different this year, it’s still going to be a fun way for kids to spend their summer. Make sure you’re ready with the deposit by the end of May for most places.
5) Yard work/home maintenance and preparing for summer - Gardening and landscaping can both be additional costs this month you may not think about to get your home ready for the summer. Think mulch, topsoil, flowers, seeds, starter plants, etc. Planting a vegetable garden now can be a great way to save all summer long!
6) Vacations - This is the time of year that your dreams start going wild with summer vacation plans. It’s not too late, you can still save up and pay for the vacation before it happens! If it’s not within your budget or part of your goals to do a full week vacation, you can still budget in for some small 3 day getaways and keep it frugal. Check out listings on Airbnb, VRBO or Groupon to see where the summer can take you (for less!).
7) Wedding Season - They’re baaaccckkk! It’s time to start looking at who’s 'save the dates’ you have and make some plans. Some people can get inundated with invitations to weddings and it can be a huge hit to your wallet if you’re not careful. Start saving early if you have multiple weddings (which also means bridal showers and bachelor(ette) parties) or if they will require travel, hotels or new clothing.
8) Entertainment - There’s something about the warmer weather that makes you want to get out there and be social! Theme parks, the zoo and other outdoor markets are just a few places that you’ll want to make sure your budget is prepared for. Don’t forget to also check out your city’s local listings for fun and free festivals to add to your calendar.
9) Cinco de Mayo - You may not be Mexican, but kind of like St. Patty’s Day everyone turns Irish, this seems to happen for Cinco de Mayo too! If you’re heading out to celebrate, just be sure to account for it in your dining out or entertainment budget this month.
10) Teacher Appreciation Gifts - Much like Mother’s Day, it’s the thank you and appreciation that counts! It can mean the world to your kids teacher to simply write a sincere thank you note, and if it’s in your budget a $5 gift card to Target, Starbucks or your local coffee shop will make them smile! My kids are still in daycare, so we like to take in donuts, bagels or cookie trays for the whole staff to enjoy.
Whatever your summer plans are, tell your money where it’s going, don’t let your money and summer happen to you. It’s all about living and spending with intentionality!
If you’re ready to learn how to save more and spend less, download my top 20 tips to help you save more, and spend less without sacrificing your lifestyle below!