Best Budget Categories to Include In Your Financial Plan

To really understand where your money is going, you’ll want to have specific budget categories that keep everything highly organized.

Budget categories are important in your planning, as they itemize your spending (sometimes, even down to the dollar).

Why Do I Need to Budget and Have Categories?

- Needs - Wants - Savings

What Are the 3 Main Budget Categories?

Breaking Down the Budget Categories

How you do this is entirely up to you, but these are the main categories you want to include in your budget and financial plan.

This can be 100% through your paycheck or can be made up of a job alongside several side hustles, passive income streams, under the table jobs, and any other ways you produce cash.

1. Income 

Whether you pay rent or a mortgage, chances are that some of your outgoings are due to housing.

2. Housing 

If you own a car, that’ll include payments for car insurance, gas, ownership, or leasing, and maintenance; alongside the other associated fees. 

3. Transportation 

Swipe up now for more  financial tips!