Budget Creep

It is a phenomenon that catches us all out.

We all tend to spend a bit more than we expect or hope each month.

Over time, the price of goods and services go up. Maybe it is the annual increases of your insurance policies. It could be how expensive petrol and diesel have become. Maybe it is just the way that food prices go up and up.

Now, we all know we should budget every month, but few of us actually get around to that.

‘we all know we should budget every month but few of us actually get around to that’

We tend to be better at looking back at our spending than looking forward. And so, when we add up all the figures at the end of the month and see what is left, we may find that though we have been advised to save a little something each month, there is nothing left in the bank.

While this is fine for a while it can become a big problem by the time some of our annual expenses role around. Expenses like school stuff for the kids in January or a service our car so desperately needs.

So, please beware of budget creep. Rather than only track what has been spent, use that information to adjust your future budget plans and remember to factor in higher prices when planning for 2026.