26 Commonly Forgotten Expenses You Need to Budget For

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If you want to create an accurate budget, make sure to include these commonly forgotten expenses!

I think we can all relate to that feeling when you realize you went way over your monthly budget. How can we prevent that from happening?

If you read my post on 5 Common Budgeting Mistakes and How to Avoid Them, you know that I’m a big advocate for planning as much as you can to avoid surprises. You’ll never be able to predict all expenses that could pop up, but there’s lots of expenses that you should anticipate and account for.

In this post, I’m sharing a detailed list of commonly forgotten budget items to help you avoid the same mistakes I’ve made! The expenses are broken down into categories like travel, gifts, car, technology, and more.

This post is all about commonly forgotten expenses.

Top 26 Commonly Forgotten Expenses

Travel

Costs for travel include so much more than just the flight and hotel. Here’s a few other travel-related expenses you should budget for:

1. Car rental. Does the city you’re visiting have good public transit options, or is it walkable? If not, you may need a car rental, which can add up as a daily cost on your trip.

2. Transportation to and from airport. Unless you’re able to get a free ride from family or friends, you’ll want to consider airport transportation costs. This could include the cost of an Uber, or the cost of parking if you want to leave your car at the airport.

3. Travel insurance. When you’re away enjoying a vacation, the last thing you want to have to worry about is a huge medical bill! Your provincial health plan likely would only cover a small part (or maybe even none) of medical fees incurred abroad, so travel insurance is a must-have.

4. COVID Tests. Depending on what country you live in and are traveling to, you may need to purchase a COVID test at departure and/or arrival. Here in Canada, the costs can be quite high so it’s definitely a cost you’ll want to budget for.

5. Pet boarding/kennels. If you have a pet, you’ll need to arrange for someone to care for them while you’re away.

Gifts

When I think “gifts” my mind usually goes to holiday gifts or birthday gifts. But, there’s tons of other special occasions throughout the year that you should consider budgeting for too.

6. Wedding. The cost of wedding gifts can really vary depending on your relationship to the couple, so keep that in mind when setting up a budget. Sometimes a wedding invite also means an invite to a bridal shower, bachelorette party, or other events that typically include a gift too. The good news is you usually get invited to weddings pretty far in advance, so you should have lots of notice to include this in your budget!

7. Baby shower. I haven’t quite hit the age where many of my friends are having kids (yet), but if you are then you’ll definitely want to set aside some money for baby shower gifts.

8. Host/hostess. This category is definitely not essential, but I’m including it because I think it’s pretty common and something I often forget. When you’re invited over to a friend’s house for a meal, it’s a nice gesture to offer a small gift – this could be a bottle of wine, a small bouquet of flowers, or offer to bring an appetizer/dessert to the meal!

9. Anniversary. If you have a significant other and you like to exchange anniversary gifts, don’t forget to budget for that. It only happens once a year, so it’s easy to forget to include this in your budget!

10. Cards. There’s tons of occasions where you may need a card, and the costs can really add up. Check out my post on How to Make a Homemade Birthday Card in 4 Easy Steps if you’re interested in saving money on store bought cards!

11. Shipping costs. Unless all your friends & family live nearby, don’t forget about the shipping costs for your gifts! When my boyfriend and I were doing long distance, this was an expense that I always seemed to forget about. And I swear, sometimes the shipping cost as much as the gift did!

Some car expenses can be unpredictable (like the time I had to get my car alarm fixed after it went off daily 2 weeks), but there’s lots of expenses that you can and should expect to pay each month/year. Here’s a few examples:

12. Annual or bi-annual services. You can count on at least a few trips to the auto shop every year for things like oil changes, switching your winter/tires for those seasons, and other regular maintenance your car requires.

13. Parking. A few dollars here and there may not see like much, but it can really add up. Make sure to budget for regular (ex. parking pass at work) and irregular (ex. parking downtown to dine out) parking expenses.

14. CAA. For readers outside Canada, CAA is our roadside assistance program here! I can’t tell you how many times CAA has saved the day when I’ve been locked out of my car, had a battery die on a road trip, etc. Since this is an expense in addition to insurance, it may be something that you forget to account for in your car budget.

15. Renewing identification/registration. Depending where you live, the fees and frequency will vary greatly for renewals. Make sure to check the rules in your local area!

Technology

Is there anything more exciting than saving up for a new laptop and finally having enough money to purchase it? When you’re setting your savings goal, don’t forget to include these extra costs.

16. Accessories. There’s lots of accessories that you may choose to buy to keep your technology safe. For example, a good phone case and screen protector can help prevent damage. Or, recently I purchased a new laptop and needed an adapter to connect to my HDMI cable. These are all obviously add-ons not included in the cost of the product itself.

17. Insurance/protection. Speaking of damage, it’s usually a good idea to pay for Apple Care or other warranty protections are available.

Subscriptions, Memberships, & Annual Fees

Subscriptions tend to the be the biggest culprit of “forgotten” expenses. It’s easy to forget what subscriptions you have, especially if the charge only shows up on your credit card once per year. Do a credit/debit card audit to make sure you know what you’re subscribed to and add these to your monthly expenses list! Below are a few examples of categories:

18. Annual Fees. Credit card fees, bank account fees, professional association memberships, etc.

19. TV Subscriptions. Amazon Prime, Netflix, Crave, Disney Plus, etc.

20. Music Subscriptions. Spotify, Apple Music, Amazon Music, etc.

21. Gym/Fitness. In-person gyms or virtual class subscriptions.

22. Subscription boxes. Hello Fresh, Chef’s Plate, Fabfitfun, etc.

23. Tech Subscriptions. iCloud storage, Microsoft Office, Adobe Creative Suite, etc.

Miscellaneous

Of course, there’s always some expenses that don’t really fit into a specific category. Don’t forget about these expenses:

24. Household items. I am usually pretty good at budgeting for groceries, but household items always seems to sneak up on me. Basic items like cleaning products, toilet paper, or detergent don’t have to be bought frequently but can really add up over time! That one-time Costco stock up for these household essentials can really throw off your budget if you haven’t planned for it in your budget.

25. Hobbies. Having hobbies and things you like to do outside work is so important, and I encourage you to find ways that you enjoy spending your time! If your hobby isn’t free (unfortunately, most aren’t), make sure to budget for the costs! For example, if you love painting, budget for the cost of canvases, paint, brushes, etc. Or if you love skiing, budget for the cost of lift tickets, equipment repairs, etc.

26. Office supplies. I had to include this on the list, because I was just recently thrown off by the cost of purchasing printer ink! Office supplies (especially if you’re working from home) are probably infrequent costs which is why they are commonly overlooked expenses. If you have kids, you may also want to consider back-to-school supplies in this category.

This post was all about commonly forgotten expenses.

26 Commonly Forgotten Expenses You Need to Budget For