If you don’t have a cable bill, or you’re looking to downsize, you can save a ton of money by switching to streaming services like Hulu and Netflix. If you’re a renter you will have this as a monthly fee. If you are a homeowner and have a mortgage, this one likely gets lumped into your mortgage payment. If they are annual, you can add it to the sinking fund category. Homeowners Association Dues can be due monthly in some neighborhoods (or condos) or even due annually. Of course, there are exceptions and if you live in a place with a higher cost of living- this might not be as realistic for you. So if you get paid weekly, your rent should be equal to (or less than) one week of your pay. RentĮxperts agree that your rent should be between 25%-30% of your take home pay. You know exactly how much the bill will be every single month because it’s always the same. Fixed Monthly Expenses Listįixed monthly expenses are expenses that don’t change each month.

I believe personal finance is personal and you get to fit your budget to meet your family’s values, goals, and lifestyle. It should help you determine which monthly expenses you have so you can add them to your budget. This monthly expenses list is comprehensive, therefore all of the expenses might not apply to you and that’s okay. We’re going to break these monthly expenses list up into the following categories:

That’s not to say it can’t be lowered one day, but the point of the budget is to create a plan and stick to it. When it comes to budgeting, it’s important to be realistic and account for your actual expenses. The main reason people stop budgeting is that they aren’t creating realistic budgets for the things they’ll actually spend money on. That’s why having a monthly expenses list can help you write a better budget. It’s important to know exactly what you’re spending money on. Knowing what monthly expenses you have is the key to staying on budget.

Bills you have to pay monthly