71 Budget Categories You Might Be Forgetting From Your Budget

Having a budget in place is the key to financial success!

Have you ever started a budget without using categories? If so, I’m assuming it wasn’t easy. If you miss categories while budgeting, it’ll throw off your entire budget!

Creating a budget that uses categories allows us to tell our money where to go before we even get our hands on it, which is pivotal to your success.

If you want to create a flawless budget, start using budgeting categories every month.

What is a Budget Category?

A budget category is an umbrella term for the various areas of your budget that you need to track to keep a handle on your finances.

Each of these categories has its own purpose and requires different strategies depending on your financial goals.

Each of these categories is specific to your saving and spending goals. Your budget categories will probably look completely different from your friends, or family members’ budget categories.

How do Budget Categories Work?

Budgeting by categories is a great way to keep your finances organized. Pick out your categories based on your monthly wants and needs. Then allocate money to each category every paycheck.

You can add new categories every pay period or take some away. Around holidays and birthdays, we add new categories in. Once the holiday passes, take them out of our budget until the next occasion.

Once your cash is gone in each category, you have to stop spending until you are able to replenish that category.

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What Categories Should I Use in a Budget

As I mentioned above, the best part of picking budget categories is that it’s completely based on your lifestyle and needs. Everyone has different wants and needs, so everyone’s categories are going to be different.

Your interests are probably completely different than mine. Therefore, your categories will be different than mine, and that’s perfectly okay.

How specific should you make your budgeting categories?

How specific you make your budgeting categories depends on how detailed and organized you want to be with your finances. You can choose to do broader budgeting categories such as:

Bills
Food
Entertainment
Gas money
Mortgage

By using broad categories, you are able to have more control and understand where your money is going without being too detailed. For example, your bill category would cover all of your bills each month.

However, if you want to be ultra-organized and focused on tracking your expenses down to the penny, then you may want to use specific categories like:

Electric bill
Dining out
Food budget
Hobbies
Personal spending
Debt payments

Using these specific categories, you can accurately track your expenses and ensure that each dollar is being spent in the right place.

No matter what type of budgeting category you choose, make sure they help you stay on track with your financial goals.

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77 Budget Categories List

Below, select the budget categories you deem fit for the needs of your household. Then write out your budget using the categories, making sure you account for every expense.

Remember, you can break each of these into broad categories such as utilities, home, and entertainment, or you can break things down and do subcategories as well, such as listing out each utility or bill, etc.

Utilities

1. Electricity

2. Natural gas

3. Garbage

4. Water

5. Sewer

6. Trash

7. Cable

8. Heating

9. Phone

10. Recycling

Home

11. Mortgage payments

12. Rent

13. Repairs

14. HOA Fees

15. Alarm system

16. Property taxes

17. Rental insurance

18. Homeowners insurance

19. Home remodel

Food Expenses

20. Groceries

21. Restaurants

22. Alcohol

23. Costco/ Sams Club

24. Coffee shops

25. Fast Food

26. Work lunch outings

27. School lunch

Household Necessities

28. Cleaning supplies

29. Toiletries

30. Tools

Transportation

31. Gas

32. Vehicle maintenance

33. Car payments

34. Oil changes

35. Car insurance

36. Tolls

37. Parking Fees

38. Vehicle registration and tabs

39. Lease on vehicle

40. New tires

Personal Care

41. Haircuts

42. New clothing

43. Salon and spa

44. Chiropractor

45. Gym membership

46. Vacations

47. Fun money

Entertainment

48. Movies

49. Babysitter

50. Makeup

51. Salon

Kids

52. After-school activities

53. Toys

54. School supplies

55. Allowance

56. Daycare

57. Babysitter

58. Kid’s college fund

Medical Care

59. Doctor’s appointments

60. Eye appointments

61. Urgent care visits

62. Prescriptions

63. Glasses and contacts

64. Vitamins

65. Supplements

66. Hearing aids

67. Dentist appointments

68. Health insurance

70. Dental insurance

Savings Account

71. 401K

72. Roth IRA

73. Mutual Funds

74. Index Funds

75. Emergency fund

76. Life insurance

77. Debt repayment

78. Holidays

Budget Categories- Final Thoughts

With the right budget categories in place, you’ll be able to make sure your finances are aligned with your goals. Everyone has different financial needs, and these categories can help meet those needs. From setting aside money for travel to making sure you’re saving for retirement, having the right budget categories in place will ensure that you’re able to maintain financial security and peace of mind.

Even if you’re starting out on a budget journey or have had one for a while, it’s always important to review your current system and see what new budgeting areas might be beneficial for you.

While some parts of creating a budget can seem tedious, having all the information about your spending and income right at your fingertips makes it easier than ever to get started on managing your money responsibly and helping protect yourself against potential financial pitfalls in the future.

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If I missed a budget category that you feel is essential, let me know in the comments below so that I can add it!

Ready to Start Budgeting?

Budgeting can be overwhelming, especially if you’re just starting out. The good news is that you don’t have to figure it out alone. Our free budget binder is the perfect tool to help you get on track with your finances. Whether you’re trying to save money for a down payment on a house or trying to get rid of debt, this budget binder can help you organize your finances and stay on top of your expenses.

With easy-to-use printable templates for tracking expenses and setting financial goals, our budget binder is packed with everything you need to start achieving your financial goals. Don’t wait any longer to take control of your finances. Grab our free budget binder below and get started today!