Whether you are just getting started on your first budget or taking the time to renew your money management systems, the following list should help you. Often the hardest part of a budget is simply separating your spending into different categories. So grab your checkbook, bank statements and credit card bills, and get started on a budget today.
Typical budget categories include:
Have an budget account for miscellaneous cash you take out for little expenditures. This is simpler than trying to keep track of each piece of gum or soda you buy.
Childcare or babysitting:
If you have kids, this is inevitable.
Yes, we all need to keep our wardrobes stocked.
We all need a break, so set some aside for a little fun too.
This is a good category as a watchdog. Place all your fees or finance charges here to keep track of them.
You can break the food section out into restaurants and groceries.
Either charity donations or birthday parties, this is the category for giving others a special day.
Hair cuts and more… whatever you do to stay neat and groomed will fit here.
This category is for maintenance and cleaning fees for your home.
Either your rent or mortgage will be in this category.
This will include disability, life, health and home.
This is often the place to put your expenses related to Internet, television, books, magazines and newspapers.
While animals certainly bring joy to our lives, they do cost us money too.
Whether it is your child’s preschool or saving for college, this is the category.
Basic expenses like phone, water, electricity, natural gas will go here.
Even if it is only $10 a month, try to designate some money in your budget for the future.
You can leave this out if you plan your budget after taxes, but some like to keep track of this category separately.
Whether it is commuting to work by bus or the costs of your automobile or gas, transportation is also necessary for all.
From weekend day trips to a lengthy adventure overseas, this is the place to hold some money for the necessary escape.
Whatever I forgot above, include here.