Step 6: Manage Seasonal Expenses
Now that you have created a workable budget and have planned your pay cheques, the last step is to plan your savings money so that you are able to track and manage your seasonal expenses. This Seasonal Expense Worksheet will help you get started.
Set up a binder with one page for each seasonal expense item listed on your Budget Worksheet. The first page is what is actually in your savings account (A). List the date and how much you deposit or withdraw each time. The subsequent pages are for the items you will need money for when the time comes, e.g. car repairs, vacations, gifts, clothing, etc.
For example, you deposit $300 to your savings account twice a month and record this on the first page of your binder (A). Then, based on your budget, you record the amount you need for your seasonal expenses on each of the next 4 pages (clothing (B), car repairs (C), gifts & festivities (D), travel & vacations (E)).