Rains Making You Spend More? Breaking Down Seasonal Expenses From Transport To Medicines
Right from miscellaneous spends like umbrellas to season specific spends like medicines, planners warn that these monsoon can put one in a tight spot if not properly accounted for.
Soggy sandals, a dripping umbrella and full day of work, every once of irritation from these weighed in while thinking about the ride back home. The last thing that I wanted to do was to bar gain with an auto driver or stand out in the rains risking a cold. And just like that, Rs 500 ka-chinged its way out of my account for the cab instead of the usual Rs 250 for an auto.
It is only when the downpour batters down buffer funds and the lash down weighs on the wallet, that many realise that subtle seasonal spends maybe heavier on the pocket than one thinks.
Right from miscellaneous spends like umbrellas to season-specific spends like medicines, planners warn that these monsoon can put one in a tight spot if not properly accounted for.
Monsoon Spends: Five Seasonal Expenses
One of the first envelopes of expenses that sees a spike is transport. A ride that would have been well within the budget can jump higher solely due to the weather.
Then follows the miscellaneous spends like umbrella, sandals, rain coats and more, that are necessities. Though these might not be as frequent, the purchases of these products for a full family can add up to a hefty bill.
Another factor is the lifestyle changes like grocery shopping or ordering in. The ordeal of going out to buy groceries or food will push many to simply order it in. This although subtle, will cost nearly double the actual price.
There also quieter spends like medicines as one becomes more prone to fevers and sickness. Monsoons tend to bring more hospital visits due to the compromised immune system and various other factors.
Expenses for houses are a different category altogether as leaks, maintenance, heaters and more come in during the season. This can range from windows to fixing up electronics that are damaged by the rains.
One last honourable mention is also the insurance premium that some might need to pay especially in flood prone areas. Despite this spend not being a seasonal one, any slip in the process of making claims can even result in a need to dip into savings as well.
Planner's Take On Monsoon Spends
Though these may seem trivial these expenses may get out of hand if not tracked closely.
"In this you have no choice, so its important to have a fluid living expenses budget. This also comes in during the summer, people cannot live without the AC. The bill is bumped up during summers. Where as in the winter, the electricity bill might allow you to save a little. Here one may be able to save during some seasons while might need to spend a little more during other seasons," explained Santosh Joseph, founder of Germinate Investment Services.
While planning we know that some months we will be able to save more while in some others we end up needing to spend more. Essentially, it comes down to being aware that all months and their spending are not the same. According to Joseph, the way around it is cushioning living expenses well with buffer savings.
"Always have three to two months as a surplus savings to be a buffer for needs like this. Any month this can happen so this buffer will be useful. Its almost like if you make hay when the sun shines, you can also use it while its raining," he added.
