![]() ![]() My chickens lay eggs so I don’t have to buy them and I can/do sell the excess. As a modern day homesteader and keeping “The Tightwad Gazette” as my secular bible, my pet food expenses probably exceed most households (chicken feed, rabbit feed, and lots of hay…especially once I add goats, sheep and ponies to the mix (all in due time)) but other expenses are a lot less. Keep this category reasonably funded.Įditor’s Note: Need a revised and expanded list of these categories? Check out my Budget Category Brainstormer – a beautiful worksheet for printing with 80+ time-tested categories and plenty of blank spaces for your own! If you don’t budget some fun money, you’ll end up spending money from categories you shouldn’t. You might need a spreadsheet for this to include in your budget.Įveryone needs a little fun. Whether you’re saving for gifts for your spouse, family members, or friends, make sure you write out how much you intend on spending per person per occasion. Other Savings – You can add other specific saving categories here where needed.Hill and Valley Fund – For people with variable incomes.Many financial experts recommend saving at least 10% of your income for various expenses. Instead, save money up for your education needs. Raise your income through education! Beware of funding your education through debt. It is often recommended to save and invest for retirement as a high priority in your prioritized budget.įunding your family’s education is a great return on investment. With Social Security wavering, who knows if you’ll be able to depend on the government for assistance. It’s important to have a retirement plan you can depend on. It can include subscriptions to personal items or services as well as other personal expenditures. This category is a sort of “catch all” for anything having to do with you or your family personally. Look at your bank account and determine what household items and supplies you purchase throughout the month. Raise your deductibles to save some money if you have a fully funded emergency fund. The goal of insurance is to pay for expenses you can’t afford but desperately need to cover. Specialty Care – Think orthodontics, optometrists, etc.Vehicle Replacement – This should be for reasonable vehicle replacements fancy add-ons should come from your Fun Money category.Įven if you are healthy and don’t have many medical expenditures, make sure you consider these categories.But you’re going to need more than gasoline and oil changes. But don’t go overboard here with all the latest trends – that’s for your Fun Money category to manage.Ĭommute to work? Transportation is important. For example, you might choose to go without cable! Some of these are more important than others. This one is important too, and make sure that you can afford whatever dwelling you choose!ĭon’t forget the importance of utilities. Food needs to be very high on your prioritized budget list. Specific Needs – Consider creating a Giving Fund.It should be the top priority on your budget. ![]() Giving puts money in perspective – and it also helps the community at large. Remember, these are just to get you started, nothing more. I’ve added subcategories to each major category so you can further define your budgeting categories as needed. Some are essential, some are recommended, and some are discretionary – it’s up to you to figure out which are which beyond what I’ve said below. ![]() 70+ Basic Personal Budget Categoriesīelow I’ve listed many basic budgeting categories, but understand that these are not necessarily prioritized. The budgeting categories listed below won’t do you any good unless you have some sound principles behind them.īob has written a great article on how to make a budget that includes how to make the “world’s easiest budget” and other budgeting methods designed to save you the most money possible.Īnd if you prefer, you can download one of these free budgeting spreadsheets or take the Real Money Budgeting online course as well. ![]()
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