The bank holiday weekend has come and gone and along with it comes some unexpected budgeting. Some things for this year I’ve already budgeted for - particular weekends, gigging, a holiday in October, along with all the usual things like food, petrol, rent etc.

Working for myself, I find I’m spending an increasing amount of time on the road during the week. Commercial vehicles here in Ireland are required to pass vehicle testing on an annual basis. Having passed with flying colours last year, I find I’ve failed mine this year, with flying colours. For me it means a full service, new tires, having some parts replaced, labour charges, VAT charges and more - it all adds up.

However, in working for yourself you learn to budget for the unexpected. So while I know how much money is going to be needed to cover holidays and annual living expenses, I’ve learned over the last few years that you need to keep some kind of a rainy-day account for yourself once you’ve gotten up and running.

Simple things like setting up a standing order to a savings account (I pass out €X per week that pretty much slips under my radar), opening a Credit Union savings account, or stuffing money in an envelope under bed - however you do it, it’s important to budget for the unexpected, making sure that the unexpected payments don’t have a negative impact on the costs you expect to incur on a weekly basis.

I’ve you’ve never thought of a simple savings account, maybe now is the time.

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