After a month or two of tracking your spending you’ll find the task gets easier and easier. You’ll also find money seeping from your wallet in ways you weren’t entirely conscious of before. If you have been diligent at tracking you’ll probably find many expenditures that aren’t in your budget – items like stamps, school fees, birthday gifts and tips. Items that cost only a few dollars here or there, but quickly add up. Think about your “forgotten expenses” and where they fit in your budget. Remember, the only way to get a handle on your spending and make cuts is to know where you are starting from and where you are going.

Stamps
Chances are stamps are not something you included in your budget. Think about how much you spend on stamps each year and create an annual total. List this in your budget as a separate expenditure, or as a line item under a separate category like household expenses or business costs. Don’t forget the holidays when Christmas cards and the shipping of parcels can quickly add up.

School activities
It seems like schools today constantly have their hands out asking for a few dollar here and a few dollars there to pay for field trips, afterschool activities, hot dog days and more. Don’t forget to include these expenditures in your budget.

Newspapers and books
Ten dollars here and $5 there can quickly add up. Consider how much you spend on your reading and ensure you make a budget category or a separate envelope specifically for this. Remember, you can always buy used or use the library if you want to cut costs.

Gifts
Gifts – for special events and special people – can quickly add up to hundreds of dollars each year. There are birthdays, weddings, anniversaries, Christmas and Hanukah, hostess gifts, gifts for the teacher and gifts for the many birthday parties your children attend. Estimate how many gifts you buy each year, total the amount and divide it by 12 for a monthly total.

Automobile Expenses
You probably included insurance in your budget, but did you remember other car expenses such as oil changes, regular maintenance, and cleaning (if you so indulge). Depending on the age of your vehicle, these expenses can quickly add up.

Coffee
Do you enjoy an occasion Grande Latté with biscotti on the side? This treat can quickly drain your account. Keep track for a month to see how much you spend on treats like coffee or bottled water.