Southern Community
Fights Cystic Fibrosis
Our Cutest
Pet Contest Winner
Social Networking
Security Tips
What's Happening
Recent News on Southern
Community Employees
Regardless of how carefully you budget your spending each month, there will be times when you face expenses for which you did not plan. Don't allow these expenses to frustrate your budgeting efforts. There are steps you can take to ease the impact of unexpected expenses and to help you anticipate expenses down the road.
In Case of Emergency
Before you begin budgeting for next month, think about expenses that have disrupted your budget in the past. Jot them down and assign a small amount of money to put in an emergency account each month in anticipation of these expenses. You should determine the amount to be maintained in the emergency fund based on your own individual needs and experiences. As you build your reserve, carefully monitor all unexpected expenses that arise over the course of a year. This will provide you with a better understanding of the amount of money you 
should maintain in your emergency fund.
Can't Touch This
Once you have established an emergency fund, try not to touch it. It shouldn't always be the first place
you go when an unexpected expense pops up. Instead, look to other areas of your budget to determine if you can cut back. It is important, however, to be realistic in your assessment. If your family spends a certain amount on groceries every week, don't assume that you can cut that amount in half. You will inevitably end up blowing your budget and experiencing a sense of guilt that is unnecessary. Categories like entertainment and eating out are more likely candidates for budget trimming.
Think Outside the Box
Do you really need to spend money to address the need at hand? Suppose your newest unexpected expense is a last minute gift for a co-worker's birthday party. Consider giving something homemade for a fraction of the cost. Cook a special birthday treat like homemade brownies or use your special talents to create a unique gift like a hand-painted picture frame. Chances are you'll already have many of the supplies you need, and the gift will be particularly special because of the thought and time that went into it.
When All Else Fails
If you have not yet established an emergency fund but have a significant expense that cannot be avoided, it is a good idea to have a credit card on hand. Your credit card should be reserved only for a true financial crisis and should be a last resort for unexpected expenses.
