PLANNING AND FUDGE FACTORS; UNPLANNED EXPENSES AND PERSONAL FINANCE, THE MAIN REASON PEOPLE GO INTO DEBT
How to Manage Your Bills, Checkbook and Credit Cards
Personal finance tips for simple management of your money, income and debt.
How to balance a checkbook and easily find mistakes. When to pay bills and avoid late fees, penalties and bad marks on your credit record. How to keep unplanned expenses from making you go into debt.
Consumer guide to frugal living - from previous newsletters © Copyright 1995-2000 by SAVVY-DISCOUNTS.com - All Rights Reserved
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7.8 PLANNING AND FUDGE FACTORS; UNPLANNED EXPENSES AND PERSONAL FINANCE, THE MAIN REASON PEOPLE GO INTO DEBT
Careful planning helps you get a handle on most major expenses. It's those little extras that fool you and add up to a lot more than you expected.
many people resist planning and list making, the amount of time spent planning is paid
back many times in good organization and a clear mind. In addition through planning you
tend to gain an overview and remember things that you would have otherwise forgotten.
Planning usually involves making a list of all the possible expenses some of which you may not know and then adding a "fudge factor" of 20% -50% for unexpected costs.
Travel is a good case in point. You know roughly how much the hotel is going to cost and the meals, but what about the tax, tips, cabs in the pouring rain; how about museums, amusement parks, snacks, souvenirs?