Let’s say you’re a single parent with three children, and you earn $20/hour. That’s $60,000/year, or $1,000 a month. If you’re not sure how to spend that, or how much you need to save each month to reach your goals, this is for you.

If you’re like most people, you probably have a budget in your head that you tend to stick to year after year. However, after a few years, it can start to get outdated, and you may find that you’re spending more than you thought. In this post, I’ve put together 40 of the most common monthly expenses for people my age or older, along with a short paragraph explaining what each one is and how much it typically costs.

For many, saving money is a challenge. Reality is, many of the most expensive items we purchase are on autopilot, with most of the money spent on them never leaving the bank. Some of the common culprits are health insurance, credit card minimum payments, cable TV, and cell phone bills. Others are more surprising: car insurance, gas, and even electricity. And although some of these expenses are unavoidable, there are plenty of ways to save money.. Read more about non monthly expenses examples and let us know what you think.

Budgeting is the best way to ensure that your living expenses are covered; however, a budget is only effective if you budget accurately. Here’s a list of expenses you could make when you start. By keeping an eye on your overall spending (and preparing for the unexpected), you can avoid unexpected consequences to your budget.   word-image-17207 word-image-17208

List of monthly expenditure

These monthly expenses were classified as non-discretionary (needs), discretionary (wants), and contingent (or irregular).

  • Discretionary expenditure Expenses that are optional or whose costs are flexible.
  • Non-discretionary costs Spend what you need to live.

Related items: Tips to live more affordably to make your monthly expenses more affordable. The distinction between need and desire is very difficult. But it will help you prioritize what’s important in your budget and what extra expenses you can spare. Maybe you have a different opinion than I do about what fits into each category, and that’s fine! Every person lives differently. As long as you have a budget and can live within your means ….. Live your life! As always, remember to make saving money a priority!

Necessary/non-discretionary expenditure

  1. Rent or mortgage (and other general housing costs)
  2. homeowners or renters insurance
  3. Property Tax
  4. Car Insurance
  5. Life insurance
  6. Health insurance
  7. Reimbursable medical expenses
  8. Electricity
  9. Gas
  10. Water
  11. Wastebasket/Sanitary
  12. payment for the car
  13. Petrol
  14. Public transportation
  15. Internet
  16. Mobile phone
  17. the repayment of the student loan
  18. debt repayment
  19. alimony
  20. Alimony
  21. Childcare

TIP: For flexible spending, I usually budget with a big number. For example, if my water bill is between $70 and $100, I budget $100 and set aside the balance.

Desirable/discretionary expenditure

  1. Grocery
  2. Toiletries and other necessities
  3. Clothing
  4. Nutrition
  5. charitable donations
  6. Entertainment
  7. Gym membership
  8. Cable and/or streaming packages
  9. Take care of yourself
  10. Personal care
  11. School fees (school supplies, field trips, special events, etc.)
  12. Pets (food, flea control, insurance, vet visits, vaccinations)

NOTE: Some of these can be classified as needs, but they are listed here because the amount spent on them is optional.

Irregular/unforeseen expenditure

  1. Gifts
  2. Vehicle registration
  3. Renewal of driving licence/identity card
  4. Vehicle maintenance and repair (oil changes, new tires, tire rotation, alignment, etc.)
  5. Lawn and garden expenses
  6. Income tax (if you are liable for tax or have to make estimated payments).
  7. Repair or replacement of furniture/equipment

TIP: You can budget for this portion by dividing the cost for the entire year. For example, I usually get my oil changed twice a year for $60 each time. If you divide $120 by 12 months, that means you set aside $10 each month for this purpose.


By taking the time to create a detailed list of your monthly expenses, you can save yourself headaches and stress over bills you haven’t considered. If your budget allows, you can also save more efficiently. I mean… who wouldn’t want financial freedom?It pays to keep track of your monthly expenses. There are so many things going on during the year that can completely drain your bank account before you know it. As you know, a good way to control your spending is to keep track of everything that goes into your wallet. If you do this, you’ll soon learn what it’s like to have a clean slate. It’s not easy, but it is completely possible.. Read more about simple ways to reduce spending and let us know what you think.

Frequently Asked Questions

What are monthly expenses in a budget?

The budget is a place where we expect to find ways to save money on our expenses, but we often overlook it. By creating a budget, we can see how our monthly expenses break down and can see where we will be spending the most. This can help us to see how much we can save in a month. Figuring out how much money you have to spend every month is one of the most important things you can do to take control of your finances. Not only will it help you budget effectively, it can also help you find creative solutions to your money problems. Taking a look at what you actually spend every month will help you get a better idea of how much money you’re actually spending.

What are examples of monthly expenses?

You’ve heard it before: You need to budget. But what does that actually mean? A budget is a timetable for spending: whether cash, time or both, it’s a way to mentally allocate funds. Just like budgeting for money itself, budgeting for your time has its benefits. If you don’t use your time wisely, you’ll waste it on wasted activities. And, if you don’t budget for time, you’ll spend it on things you don’t need or can’t afford. Instead of thinking of money as money, think of it as a useful tool for making your life better. Think of money as a liability–something that could be gone in an instant. Take a look at your monthly expenses, and ask yourself these questions:

What are normal monthly expenses?

When it comes to budgeting, it can be tempting to try and cut costs in every possible way. This makes it easy to spend more than you think you should. For one person, it may mean cutting down on the amount of groceries you buy or meal planning or eliminating something entirely. For another, it may mean rethinking how you spend your money. You have a range of options and you should take the time to explore them and see what options work best for you. This list is another one of those that you won’t be able to live without. I can guarantee you that you will have something in here that you didn’t think about when you first got started with your money habits, and you will remember it for a long time to come. So, whether you are trying to save money for your future, or you just want a refresher of what you already know, this is a list for you.

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