Thinking ahead to the 2026 budget

 It's that time of year where we once again start looking at our budget from the current year, comparing it to our spend, determining which categories might need to be adjusted up or down, and evaluate our priorities. 

In terms of our major budget items, we have:

Boys:

• We will again have two kids in college, although Sam's college is costing us a lot less next year, and he is working enough to offset much of his expenses. Nick's college will remain very expensive until he graduates, so that expense continues. 
• The set up costs of moving kids is expensive, and we need to factor that in. We will thrift, buy used, etc but still comes with start up costs depending on the situation. 
• Nick is beginning to take more advanced math & science, so we've ear marked money for a tutor, in the event he needs one. So far, so good there.

Taxes:

• We will again owe a lot for M's severance, as the payout is not adjusted to correctly reflect our tax bracket. That money is set aside.
• Otherwise, our property & other income tax should largely remain stable.

Charity/Giving/Donations:

• We will continue our standard monthly donations, and will add in another charity that buys shoes for teens & kids in shelters. 
• We would like to give my nephew additional money for college, as he will be in his senior year next year. 

Travel:

• 2026 promises to be a pricey travel year. 
• We've got our combined 20th anniversary/50th birthday trip to New Zealand, which will definitely be expensive. The majority of the cost is included in 2025, however.
• I'm also going to Greece with my sister + BFF for a girls trip/50th combined celebration (apparently, it's a year long thing ;-)), and other than flights, we haven't paid for lodging yet & most of the expenses for this will hit in 2026.
• We are taking the boys + friends skiing at the end of December, and those costs may land in 2026 as well.
• Getting Nick to/from college is not cheap, and we've been to Boulder a few times & I expect that to continue next year.
• We are considering renting a house on the Oregon coast for a family vacation in July, & inviting my sister, nephews, parents, etc. 
• All of that to say, if anything, travel will go up in 2026. We will continue to offset the spending as much as possible by using credits, rewards, perks, etc, but there are still plenty of costs involved. 

That's where I'm at so far on the budget, although there are plenty of other categories that require a closer look with inflation. What about you? What changes are you planning for the year ahead?