In your financial life, there are a number of regular payments you need to budget for, such as rent, fuel, and groceries. These are expenses you take care of each week or fortnight, and you can plan for them by allocating a certain amount of your income to cover them.

However, there are also a number of irregular expenses that can crop up from time to time. These are different from emergency expenses – you willingly incur them, but you can’t always predict when they’ll happen or how much they’ll cost. 

For example, you may need to pay for a new car tire or a quarterly electricity bill. If you are running a business, you might need to generate a W-2 form and pay employment taxes.

Since these expenses are less straightforward to predict, the question is this: how do you budget for them? In this article, we’ll look at some of the most common irregular expenses and how to budget for them. Let’s get started!