![]() ![]() 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.Tax professional (CPA, online accounting firm).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. ![]()
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