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Utilities are any bill you pay to keep your home warm or cool, water running, and power on. Food you order in (takeout or drive-thru).It is also a category that can easily be cut back on. This is one budget category, many people don’t properly budget, though, because they forget about things like groceries, dining out, or coffee shop stops, which can cause overspending. Regular car maintenance (oil changes, new tires, inspections, etc.)įood is an essential expense that may vary from month to month.If you take public transportation or rideshare, it’s the cost you pay. If you own a car, it’s the costs incurred to own the car. Transportation expenses include any costs you incur to get from Point A to Point B. Property taxes could also fall into this category. They include every cost you incur to keep a roof over your head, whether you live in a condo, house, or apartment. Housing expenses are usually the largest expenses in any budget. Use this list to create budget categories for your budget.Ĭheck out this article on budget template printables that will help you gain financial control. Here’s a breakdown of the most common expenses. Once you have determined what you will receive each paycheck, you’ll use your budget categories list to create a sustainable budget. For example, everyone lives somewhere (has housing expenses), and everyone has to eat (food budget expenses).
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What Should My Budget Expense Categories Be?Įveryone has different budgeting categories, but overall, there are some similarities. Qube is the first of its kind and gives you a great way to keep track of your monthly expenses.
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Categorizing and budgeting those important household budget categories leads to greater financial peace. Today, most people have at least two, if not more, income streams. Categories aren’t just all your expenses, though. There are many common budget categories you can use. Others get much more detailed, breaking down categories like ‘housing’ into rent or mortgage payments, utilities, taxes, and insurance. It just depends on what will make things easier for you.įor example, some people budget for the ‘big’ categories, like housing, transportation, and food. You can get as detailed or generic as you like with your personal budget categories. You can’t create a successful monthly budget without budget categories or ‘buckets’ of income and expenses. Budgeting Categories Are Important For Your Budget.What are the Most Popular Budgeting Methods?.What percentage of your income should go to what?.Which payment type is best if you are trying to stick to a budget?.Do You Have Money Saved? Check Out This Surprising Statistic:.How to Avoid Under-Budgeting or Over Budgeting.What Should My Budget Expense Categories Be?.A Simple Alternative For Cash Envelope Categories.Visualizing The Power Of Compound Interest.Ultimate Financial Independence Calculator.