Comprehensive List of Budget Categories: Your Master List
The Master List of Budget Categories
► 1. Income
- Primary Salary/Wages: Your main paycheck after taxes.
- Side Hustle / Freelance Income: Any money earned outside your main job.
- Bonuses & Commissions: Irregular income from work.
- Investment Income: Dividends, interest.
- Other Income: Child support, alimony, gifts, rental income, etc.
► 2. Housing
- Mortgage / Rent
- Property Taxes: (If not included in mortgage)
- Homeowners Association (HOA) Fees
- Home/Renter’s Insurance
- Repairs & Maintenance: (Plumbing, new appliances, etc. – a great category for a sinking fund)
- Yard Care / Landscaping: (Lawn service, tools, plants)
- Home Improvement: (Renovations, painting)
- Furniture & Decor
- Home Security: (Monitoring service fee)
► 3. Utilities & Monthly Bills
- Electricity
- Natural Gas / Oil
- Water & Sewer
- Trash & Recycling
- Cell Phone(s)
- Internet
- Cable / Satellite TV
- Streaming Services: (Netflix, Hulu, Spotify, Disney+, etc.)
- Software Subscriptions: (iCloud, Adobe, Microsoft Office, etc.)
► 4. Transportation
- Car Payment
- Car Insurance
- Gas / Fuel
- Public Transit: (Bus/subway pass, train tickets)
- Ridesharing / Taxis: (Uber, Lyft)
- Parking & Tolls
- Vehicle Registration & DMV Fees
- Car Maintenance: (Oil changes, tire rotation – another great sinking fund)
- Car Repairs: (Unexpected issues – essential sinking fund!)
- Bike Maintenance
► 5. Food & Groceries
- Groceries: (Supermarket, farmer’s market)
- Restaurants / Dining Out
- Takeout & Food Delivery
- Coffee Shops
- Work Lunches
- Alcohol / Bars
- Pet Food
► 6. Personal & Family Care
- Health Insurance Premiums: (If not deducted from paycheck)
- Doctor/Dentist/Vision Co-pays
- Prescriptions & Medication
- Therapy / Mental Health
- Gym Membership / Fitness Classes
- Haircuts & Salon Services
- Toiletries & Personal Care Products: (Skincare, soap, makeup)
- Clothing & Shoes
- Dry Cleaning / Laundry
► 7. Children & Dependents
- Childcare / Daycare / Babysitting
- School Tuition & Fees
- School Supplies & Lunches
- Extracurricular Activities: (Sports, music lessons, clubs)
- Kids’ Clothing & Gear
- Toys, Books & Games
- Allowance
- Diapers, Wipes & Formula
- Child Support
► 8. Pets
- Pet Insurance
- Veterinarian Bills & Checkups
- Grooming
- Boarding / Pet Sitting
- Toys & Supplies
- Medication / Flea & Tick Prevention
► 9. Debt Repayment
(List these separately from minimum payments on active cards)
- Credit Card Payments: (List each card if paying down a balance)
- Student Loan Payments
- Personal Loan Payments
- Medical Debt Payments
- “Buy Now, Pay Later” Payments: (Affirm, Klarna, Afterpay)
► 10. Savings & Investments
(Treat these as mandatory expenses – “Pay Yourself First”)
- Emergency Fund: (Aim for 3-6 months of living expenses)
- Retirement Savings (401k, IRA): (Contributions not taken from paycheck)
- General Investments: (Brokerage account)
- College Savings (529 Plan)
- Sinking Fund: New Car
- Sinking Fund: Home Down Payment
- Sinking Fund: Vacation
- Sinking Fund: General Savings
► 11. Lifestyle & Entertainment
- Hobbies & Supplies: (Crafts, sports gear, etc.)
- Entertainment: (Movies, concerts, sporting events)
- Books, Apps, Music
- Travel / Vacations: (Flights, hotels, spending money)
- Subscriptions: (Magazines, subscription boxes)
- Education / Personal Growth: (Courses, books, workshops)
► 12. Giving & Gifts
- Charitable Donations
- Gifts (Birthdays, Holidays, Weddings)
► 13. Miscellaneous
(A catch-all for things that don’t fit elsewhere. Try to keep this small!)
- Bank Fees
- Postage & Shipping
- Professional Fees: (Accountant, lawyer)
- Unexpected Expenses: (This is what your emergency fund is for, but you can budget a small amount here for minor surprises.)
