Budgeting for the Month: March

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We expect March to bring the sun and warmer weather with it. Don’t forget that it also brings some special expenses too.

Since March expenses happen in few (if any) other months, they can catch us off guard and blow up our budgets. Instead of being blindsided, let’s be prepared. Here is a heads-up of common costs that happen in the third month of the year:

Prom – You might consider leaving the majority of this to the kids attending the dance, but if you want to pitch in some for a gown or limo rental, now’s the time.

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Hiring an accountant to do your taxes – You may elect to do them yourself, which means the only thing you’ll pay for is the software you use. But at least know that you’re going to spend it.

Winter clothing sales – This is one of the months where cold-weather clothing is on clearance. Buy it now and hold it until later. Savings in the long run will be huge.

Other clearance items – Stuff like luggage and gardening tools will be sold on the cheap this month as retailers unload stock from last year. Plus, prices will rise once vacation/gardening fever hits in a couple of months.

Summer camp/sports team fees – If you have kids, chances are you know all about this. The event or sport may not start this month, but deposits must be made and equipment must be bought.

Getaways – The vacation bug may be biting. Even if you aren’t leaving this month, by saving now you can have some of that “green ammo” ready for when the expenses come around.

March Madness – If you are planning to have some friends over to watch a little bit of college basketball, put some extra cash into the food budget to cover snacks, drinks, wings and so on.

Exercise Machines – As the weather gets better, more people will start exercising outdoors. That means fewer people will be buying exercise machines like treadmills and ellipticals. Stores will have extra stock, and they will be more willing to give some discounts!

Not only can this help you prepare for March, but it can get you thinking about upcoming spring and summer purchases. Start saving now, and you can spend time enjoying those activities rather than sweating how you will pay for them. Get started creating a quick zero-based budget for free right now.

What else are you budgeting for this month? Let us know in the comments section below.

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