Be sure to leave some room in the budget for these activities. It’s important to have fun too! These subcategories will really depend on your interests and what you like to do for entertainment. I’m also including charitable donations here. It’s also a good idea to be saving for Christmas gifts throughout the year.
These gift expenses will probably fluctuate from month-to-month, so my suggestion is to budget for an average and set aside anything that is extra until you need it. This is a budget category that is easy to overlook, but the amount that you spend on gifts throughout the year adds up. Use the subcategories that are relevant to you, and add any others that are needed. This is another category, like “household”, that is kind of a catch-all. This could be for your own education, or for your kids.
You could also break out some of the subcategories to make them a category of their own if you prefer (for example, clothes). I’ve listed a number of them below, but be sure to adjust these to suit your needs and your own life. This category has endless possible subcategories. This category includes medical and health-related things not covered by your health insurance. Health insurance was listed in the previous category. If you prefer, you can also put these into other categories (move car insurance to the “transportation” category, etc.) This doesn’t cover them all, but the most common types of insurance are listed here. There are a lot of different types of insurance policies that you may have. This category will vary a lot from person to person depending on factors like if you have a car, how long of a commute you have, and if you have to pay tolls and parking every day. Moving more towards groceries and less towards restaurants will save you a lot of money overall. It’s better to be conservative and estimate your expenses on the high end so you don’t have any unpleasant surprises.įood is another big part of the budget, especially if you are feeding a large family or if you eat a lot of meals at restaurants.
Utilities can be one of the more challenging categories to budget for, because the costs can fluctuate so much throughout the year. You may not have all of these expenses, but the ones you do have can add up very quickly. The subcategories listed here should be a reminder that housing costs more than just your monthly mortgage or rent payment. Housing is one of the biggest areas of expense for many households., and it’s obviously important. You may also want to see our recommended budget percentages so you know how much to allocate for the major budget categories. The purpose of listing these categories is simply to give you some ideas and to help you find the categories that should be included in your own budget.
#PERSONAL BUDGET ITEMS FREE#
They aren’t prioritized, so feel free to put them in whatever order you like. Budget Categoriesīelow you’ll find a list of budget categories and subcategories. Of course, you should also add any categories or subcategories that are relevant to you but not listed here. You can also change the categorization in ways that make more sense to you if you’d like (for example, moving homeowner’s insurance under “housing” instead of “insurance”). You should include only those that are relevant to you in your own personal or family budget. The categories listed in this article are only suggestions.
#PERSONAL BUDGET ITEMS HOW TO#
If you’re looking for more detailed guidance on the budget creation process, please see my article How to Create a Budget that Works. In this article, you’ll find a list of more than 90 budget categories and subcategories you can use to create your own budget. One of the biggest challenges is knowing how to categorize your expenses to keep everything organized. The process can seem overwhelming, but it isn’t difficult. Creating a budget is one of the first steps you should take for getting your finances in order.
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