#EXAMPLES OF BUDGETS FOR HOUSEHOLDS PROFESSIONAL#
#EXAMPLES OF BUDGETS FOR HOUSEHOLDS TV#

If you still want to track your spending in these different areas, we need to simplify these major budget categories and many subcategories. If there’s too much information and it becomes intimidating to create a budget, then simplifying will be better for you. How do you know if you have too many budget categories? Unless you’re a spreadsheet wiz then this is probably too many. A comprehensive list of budget categories. Non-cash donations (Goodwill, Salvation Army, clothing, canned food, electronics, stock, etc).Service person gifts (mail carrier, home service, personal assistant,.Gaming system / Video games / Gaming accessories.Smart home (Amazon Echo, Fire, Nest, Google).

Trips for weddings, bachelor/bachelorette parties.

#EXAMPLES OF BUDGETS FOR HOUSEHOLDS PROFESSIONAL#

Tax professional (CPA, online accounting firm).

#EXAMPLES OF BUDGETS FOR HOUSEHOLDS TV#

Sports TV subscription (like ESPN or Fox Sports).

Homeowners insurance / Renters insurance.

If a list of 182 separate categories sounds like heaven, have at it 🙂 Income If this list seems intimidating, move on to the next section where I’ll simplify it for you. It’s helpful to start with a comprehensive list of budget categories to make sure you don’t miss anything. The first step is to make sure you’re capturing all of your spending.

Think about your budget personality before reading futher. This budgeting method is great for people who have had trouble getting their budget to stick. Let me show you both methods starting with the detailed budget, then I’ll simplify the categories for you.įinally, I’ll give you my bare minimum, 3 step budget system as a way to organize and track your spending that has proven to get my clients great results. Looking for Family Budget Help? See your options

Detailed budget categories: Groceries, Coffee shops, Breakfast, Lunch, Dinner, Drinks, Fast Food, Snacks.

Simple budget categories: Groceries, Dining out.

The categories you should include in your budget depends on the kind of person you are. If you’re someone who is looking for a method that you can easily maintain, then use a simple budget and keep the budget categories to a minimum. If you’re a detail-oriented person who loves spreadsheets, then get as granular as you’d like. Different systems work for different people. What categories should I include in a budget?Ĭreating a budget is not a one-size-fits-all thing.

Budgeting is the #1 skill in personal finance.

Step 3: Track your spending in 3 budget categories or less + Track your net income.

What comes after fixed, flexible & net worth?.

Step 1: Fixed, Flexible, Net worth – Simple Budget Categories.

Family Budget Expert 3 Step Budgeting Process.

What categories should I include in a budget?.

Which strategy works? Well…both will work. (If you’re just starting or have had trouble budgeting, DEFINITELY start with a short list of budget categories.)

Just like my calorie counting, you can get really granular with your budget categories or you can classify them more broadly. The end goal with budgeting is to improve your spending habits and have more money left over at the end of the month.īudget categories are just like logging your meals.īudget categories help you figure out where the areas of overspending are coming from and give you the awareness to make positive changes in your spending. The end goal with calorie counting is to get to your ideal weight. Think about tracking your spending like calorie counting. Just knowing and seeing where my calories were being eaten was so incredibly helpful. Then, the post-dinner eating was where I logged the most excess calories. Most of the extra calories came in the form of 50 extra here and there throughout the day, but it added up. Logging my meals showed me how much I was actually taking in and helped me identify my spots of overeating. The first thing I noticed is that I had wildly underestimated the calories I was taking in everyday. I recently started using Noom to log my meals and track my calories. (What does this have to do with family budget categories? I’ll get there.)

Examples of budgets for households