Looking for True Expenses ideas
Since having my financial ego crushed by Covid, I finally created a real Emergency Fund for the first time. I like keeping it as an E-fund instead of just Income Replacement so that I can pivot its purpose to whatever unexpected emergency arises. However, I keep fighting the temptation to add more and more to this category. This year I might be able to save for True Expenses, but I've often had trouble thinking of what they might be. I'd like to crowdsource ideas from people in case I'm missing anything.
I'm a 30-something freelancer living in a HCOL city in the U.S. with a young cat. I rent with my partner and use a combination of public transit and bicycle to get around.
Right now I have:
- Monthly and annual subscriptions
- Tech/laptop replacement
- Bike repair/accessories
- Medical appointments
- Moving costs (nothing planned but likely to move again in less than 5 years)
Anything else you'd recommend?
Oooh, here are a few:
- Pet vet expenses! Both annual check-ups and emergency visits.
- Gifts and charitable contributions, as well as miscellaneous spending like clothing, housewares, etc, unless you prefer to use a wish farm method for things like that (this is what I'm doing, but I'm not a big spender on "things."
- If you have renter's insurance you might also want a category for the deductible
- tax preparation
- tax withholdings for freelance income