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, your entire budget will be thrown off!

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 for every paycheck.

You can add new categories every pay period or remove some. We add new categories around holidays and birthdays. Once the holiday passes, we remove them from 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.

95 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/ Mortgage

13. Repairs

14. HOA Fees

15. Alarm system

16. Property taxes

17. Rental insurance

18. Homeowners insurance

19. Home remodel

20. Property Taxes

21. Lawn Care/Gardening

22. Home Improvement Fund

Food Expenses

23. Groceries

24. Restaurants

25. Alcohol

26. Costco/ Sams Club

27. Coffee shops

28. Fast Food

29. Work lunch outings

30. School lunch

Household Items

31. Cleaning supplies

32. Toiletries

33. Tools

Transportation

34. Gas/ Fuel

35. Vehicle maintenance

36. Car payments

37. Oil changes

38. Car insurance

39. Tolls

40. Parking Fees

41. Vehicle registration and tabs

42. Lease on vehicle

43. New tires

Personal Care

44. Haircuts

45. New clothing

46. Salon and spa

47. Chiropractor

48. Gym membership

49. Vacations

50. Fun Money

51. Makeup/Beauty Products

52. Subscriptions (magazines, apps, etc.)

53. Co-pays/Out-of-Pocket Medical Costs

Entertainment

54. Movies

55. Babysitter

56. Makeup

57. Salon

58. Hobbies

59. Streaming Services (Netflix, Spotify, etc.)

60. Date Nights

61. Family Activities (bowling, zoo, etc.)

62 Subscriptions (magazines, apps, etc.)

Kids

63. After-school activities

64. Toys

65. School supplies

66. Allowance

67. Daycare

68. Babysitter

69. Kid’s college fund

70. School Supplies

71. Field Trips

Medical Care

72. Doctor’s appointments

73. Eye appointments

74. Urgent care visits

75. Prescriptions

76. Glasses and contacts

77. Vitamins

78. Supplements

79. Hearing aids

80. Dentist appointments

81. Health insurance

82. Dental insurance

83. Over-the-Counter Medications

84. Therapy/Counseling

Savings Account

85. 401K

86. Roth IRA

87. Mutual Funds

88.. Index Funds

89. Emergency fund

90. Life insurance

91. Debt repayment

92. Holidays

93. Health Savings Account (HSA)

94. Down Payment Fund (house, car)

95. General Savings

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?

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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!