Up until now, I had perfect vision, but this month I needed to get glasses and contacts. This puts a major crimp in my budget. I’m fortunate to have vision insurance through my job but that insurance only covers my exams (I still have a copay) and $150 towards glasses or contacts per year. I used the insurance for my glasses (it didn’t quite cover the whole cost) but I have to pay for the contacts out of pocket. My eye doctor recommends monthly disposables for my prescription needs and they’ll run me about $50 a month.
Now contacts aren’t a total necessity but I definitely prefer them. I’m used to seeing myself without glasses and just can’t get used to the way I look with the glasses on. If I wear my contacts I can use the regular sunglasses I already have rather than needing to get prescription lenses for those. I have peripheral vision in focus with the contacts. And the contacts don’t collect water in the rain or oils from my face and hair the way the glasses do so I feel like my vision is clearer throughout the day.
If I couldn’t make $50 a month for the contacts work I could do without but since I can make it work and I prefer the contacts, I’ll adjust my budget to include them. Fortunately I don’t owe estimated taxes for the 2009 tax year so I can easily migrate what I was allotting for taxes to eye care.
A budget should be flexible. Make sure you allow for changing circumstances.
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I will recommend using DesktopBudget.com to manage personal finances. Its the best offline personal finance manager I have seen so far.
Since I use zero based budgeting (every $ has a place to go), when I take on a new recurring expense, I have to tweak the other categories to compensate.
I try to run a surplus here and there (which is normally swept into savings every few months) in order to provide ‘wiggle room’ and also a bit of a cushion in case a category goes over budget (usually utilities if the weather is extreme).
You’re right though, the two keys to budgeting are flexibility and accountability.
We use a calendar and a pencil to budget. It sounds funny however this method works great. We simply schedule each pay check and then each bill payment and we have an excellent understanding of where our money goes and what will be due next. ~ Solid Planning
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