71 budget categories you might forget about in your budget

Having a budget is key to this financial success!

Have you ever started a budget without using categories? If so, I’m guessing it wasn’t easy. If you leave out the categories when budgeting, your entire budget will be thrown away!

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 key to your success.

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

What is a budget category?

A budget category is an umbrella term for the different areas of your budget that you need to track to keep your finances under control.

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 savings and spending goals. Your budget categories will likely look completely different than the budget categories of your friends or family members.

How do budget categories work?

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

You can add new categories or remove some each pay period. We are adding new categories related to holidays and birthdays. Once the holidays are over, we will remove them from our budget until the next opportunity.

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

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What categories should I use in the budget?

As I mentioned above, the best part about choosing budget categories is that it is completely based on your lifestyle and needs. Everyone has different wants and needs, so everyone’s categories will be different.

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

How specific should you make your budget categories?

How specific you create your budget categories depends on how detailed and organized you want to be with your finances. You can choose to implement broader budget categories, such as:

• Bills of exchange
• Food
• Entertainment
• Gas money
• Mortgage

By using broad categories, you can have more control and understand where your money is going without being too detailed. For example, your account category would cover all of your accounts each month.

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

With these specific categories, you can accurately track your spending and ensure that every dollar is spent in the right place.

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

95 Budget categories List

Below, select the budget categories that you think are appropriate for your household needs. Then write down your budget using categories and make sure you include all expenses.

Remember that you can break each of these down into broad categories like services, home, and entertainment, or you can break things down and make subcategories as well, like listing each service or bill, etc.

Utilities

1. Electricity

2. Natural gas

3. Garbage

4. Water

5. Sewage

6. Basket

7. Cable

8. Heating

9. Telephone

10. Recycling

Home

11. Mortgage repayments

12. Lease/Mortgage

13. Repairs

14. HOA Fees

15. Alarm system

16. Property Taxes

17. Rent Insurance

18. Household insurance

19. Remodeling the house

20. Property Taxes

21. Lawn/Garden Care

22. Home improvement fund

Food expenses

23. Food

24. Restaurant

25. Alcohol

26. Costco/Sams Club

27. Cafes

28. Fast food

29. Working lunches

30. School lunch

household goods

31. Cleaning products

32. Toiletries

33. Tools

Transportation

34. Gas/Fuel

35. Vehicle maintenance

36. Payments by car

37. Oil change

38. Vehicle insurance

39. Tolls

40. Parking charges

41. Vehicle registration and bookmarks

42. Vehicle rental

43. New tires

Personal care

44. Hair cutting

45. New clothes

46. ​​Salon and Spa

47. Chiropractor

48. Gym Membership

49. Holidays

50. Fun money

51. Make-up / cosmetic products

52. Subscriptions (magazines, applications, etc.)

53. Co-payment/out-of-pocket medical expenses

Entertainment

54. Movies

55. Nanny

56. Make-up

57. Salon

58. Hobbies

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

60. Date Nights

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

62 subscriptions (magazines, apps, etc.)

Children

63. Extracurricular activities

64. Toys

65. School supplies

66. Contribution

67. Care of children

68. Nanny

69. Children’s higher education fund

70. School supplies

71. Field trips

Medical care

72. Doctor’s visits

73. Eye appointments

74. Urgent care visits

75. Regulations

76. Glasses and contacts

77. Vitamins

78. Accessories

79. Hearing aids

80. Visits to the dentist

81. Health insurance

82. Dental insurance

83. Over-the-counter medicines

84. Therapy/Counseling

Savings account

85. 401 thousand

86. Roth IRAs

87. Mutual funds

88.. Index funds

89. Contingency fund

90. Life insurance

91. Repayment of debt

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, you’ll be able to make sure your finances are in line 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, the right budget categories will ensure you can maintain financial security and peace of mind.

Whether you’re just starting out on your budgeting journey or have been on it for a while, it’s always important to review your current system and see what new areas of budgeting might benefit you.

While some parts of budgeting can seem tedious, having all of your income and expenses information at your fingertips makes it easier than ever to start managing your money responsibly and helps protect you from potential financial pitfalls in the future.

Ready to start budgeting?

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