After gaining an overview of your income, the next step in your financial analysis is listing your fixed expenses. These occur regularly on a monthly, quarterly, semi-annual, or annual basis. Take a look at your bank statements to ensure you capture all expenses seamlessly. Also, consider expenses that aren’t automatically debited but may be paid regularly in cash. Here’s an exemplary list of regular fixed expenses that might apply to you:
Housing
- Rent or interest and repayment of a mortgage
- Flat-rate payments for electricity, gas, water
- Additional costs
- Property tax
- Sewage
- Waste disposal
- Street cleaning
- Garden maintenance
Mobility
- Vehicle tax
- Car insurance
- Vehicle inspection
- Membership fee for an automobile club
- Public transportation passes
Communication / Media
- Phone / mobile contracts
- Internet connection
- Broadcasting / TV fee
- Streaming subscriptions (e.g., Netflix, Amazon Prime, Disney+ etc.)
Household and Family
- Pocket money
- Membership fees (clubs, political parties, etc.)
- Childcare costs
- Tutoring
- Music school
Insurance
- Liability insurance
- Contents insurance
- Disability insurance
- Legal protection insurance
- Private supplementary health insurance
- Term life insurance
Finances
- Savings plans, fund savings
- Riester pensions
- Private annuities
- Repayment of installment loans
- Lease payments
- Account management fees
This list is not exhaustive but serves as a tool to ensure you don’t overlook any expenses. When you track your own regular expenses, you’ll likely be surprised at how much money you need to budget for each month. The list will be extensive, revealing where your money goes, even if you haven’t treated yourself to a single coffee or pastry. If some items occur irregularly for you (such as fluctuating mobile phone costs), you can address them in the next step when capturing irregular expenses.