What are basic expenses? You may be surprised at how much money these expenses can add up to. For instance, food expenses include your weekly trips to the grocery store, and you may also have to pay for things like vitamins and cleaning supplies. You will also have to spend on transportation, like gas and insurance for your car. And if you don’t own a car, you will have to pay for public transportation as well. The basic expenses will help you balance your budget and make your money stretch further.

There are many ways to budget for these necessities. Depending on where you live, these costs can vary by season. You might need extra money in the summer or a cold one in the winter, so make sure you budget more for those expenses. If you have some extra money to spare, you can put it toward debt repayment or savings. You may also have an Amazon Prime membership that will have to be renewed every month, or your car tag will need to be renewed. If you can’t remember to schedule these expenses, you can always set a reminder in your calendar for the renewal date.

Other expenses that might be included in a budget are housing and food. These expenses include your mortgage or rent payment, as well as any monthly utilities. You may also want to include the cost of rent or condo fees, if applicable. You can even include miscellaneous costs like healthcare. These items are not considered “basic” by everyone. So, how can you estimate how much you need? You can find out by using our calculator below.