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You are here: Home / Budget Tips / Most Common Budget Categories

Most Common Budget Categories

June 11, 2021

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It’s easy to leave something out when creating a budget. To make sure that doesn’t happen, I’ve listed out 69 common budget categories (heavily focused on the budgeted expense categories) to make sure you’re accounting for everything.

Consider joining my email list if you want free budget templates for google sheets! Get more ideas on how to save money easily and learn to cut unnecessary spending.

Common Budget Categories

Table of Contents

  • Why Budget Categories are Important
  • Most Common Budget Categories
  • Income Category Examples: 
  • Savings Category Examples:
  • Expenses
    • Necessity Expense Category Examples:
    • Luxury Expense Category Examples:
    • Subscriptions
  • Final Thoughts

Why Budget Categories are Important

When creating your budget, you want to make sure you are accounting for every single dollar. Categories are the folders keeping everything nice and organized within your budget. 

Categories will not only ensure every dollar is taken into account; they will help you recognize where you are overspending or under saving and give you a good look into your money spending habits.

Having good categories that apply to you help individualize your budget and keep you on track. Make a budget you can stick to by choosing budget categories that apply to your life!

Most Common Budget Categories

Income Category Examples: 

  1. 9 to 5 Paycheck
  2. Bonuses
  3. Tax Refund
  4. Side Hustle
  5. Baby Sitting
  6. Gifts
  7. Dividends

Savings Category Examples:

  1. Emergency Fund
  2. Roth IRA
  3. Retirement Account
  4. Trading Account
  5. Down Payment
  6. School Supplies
  7. Childrens Tuition
  • How to Calculate my Net Worth
  • How to Visit Paris on a Budget | Paris Budget Breakdown
  • How to Create a Travel Budget Template | Travel on Budget
  • Debt Snowball or Avalanche Method | To Pay Off Debt
  • How to Save Money While Planning Your Next Vacation
  • How Much Do Trips To Hawaii Cost? | Hawaii Budget Breakdown
  • What is Mini Retirement?
  • How to Find CHEAP Lodging

Expenses

Necessity Expense Category Examples:

  1. Rent
  2. Mortgage
  3. Property Taxes
  4. HOA Fees
  5. Household Repairs
  6. Utilities
  7. Electricity
  8. Water
  9. Garbage
  10. Cable
  11. Internet
  12. Gas/Heat
  13. Health Insurance
  14. Vision
  15. Dental
  16. Cell Phone Bill
  17. Groceries
  18. Hygiene (toilet paper, tissues, toothpaste)
  19. Beauty (shampoo, conditioner, soap, face wash)
  20. Gas
  21. Car Insurance
  22. Car Maintenance
  23. Car Registration / DMV
  24. Car Loan
  25. Child Care
  26. Vet
  27. Pet Food

Luxury Expense Category Examples:

  1. Travel Fund
  2. Eating Out
  3. Entertainment
  4. Clothing
  5. Transportation
  6. Gifts
  7. Things for the apartment (decor/furniture)
  8. Makeup
  9. Pet Food
  10. Hygiene (haircuts, wax, nail salon, eyebrows, eyelashes)
  11. Charity
  12. Christmas
  13. Babysitter
  14. Pet Toys
  15. Concerts

Subscriptions

  1. Costco
  2. Instacart
  3. Amazon
  4. Spotify 
  5. Gym
  6. Credit Card Annual Fees
  7. Netflix
  8. Hulu
  9. HBO
  10. Icloud Storage
  11. Google Storage
  12. Apps
  13. Wine
  • How to Survive Christmas – on Budget
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  • The ONLY 6 Budget Expense Categories You Need
  • What I Spend in a Week
  • How I Prepared Financially to Take a Year Off
  • What Credit Score is Considered Good? | Factors for Credit Score
  • Mini-Retirement Logistics Q&A
  • Investing Definitions – Investment Basics for Beginners

Final Thoughts

There you go! 69 of the most common budget categories you might have forgotten in your budget!

Don’t forget to snag my free budget templates for google sheets from the resource library!

What did I miss? Let me know in the comments!

What categories do you use?


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