11 Essential Budgeting Categories You Need For Personal Finance
This post is all about budgeting categories for personal finance.
Managing your money is a number one priority if you want financial freedom and budgeting is one of the easiest way to get control of your money.
In this post you are going to learn all about the budgeting categories you need when planning your expenses.
After learning about these categories, you will soon meet your financial goals, and meet financial freedom.
Table of Contents
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Essential Budgeting Categories For Financial Freedom
1. Income:
- Salary / Wages
- Dividends
- Side Hustles
- Investments
- Almony
- Bonuses / Tips
Your income source is a big part as it is where you get your money from.
2. Savings
- Investments
- Certificates
- Emergency Funds
- Sinking Funds
- Education Savings
Always dedicate a part of your money to savings, building a healthy financial habit.
3. Debt
- School Loan
- Credit Card
- Auto Loans
- Debt
- Consolidation
- Line of Credit
4.Housing
- Mortgage / Rent
- Maintanence
- Improvement
- Property Taxes
- Appliances
- Furniture
- Warranty
5. Utilities
- Electricity
- Water & Sewer
- Trash
- Internet Cable
- Satellite
- Alarm System
- Heat / Gas
6. Health
- Medical
- Vision
- Dental
- Life Insurance
- Disability Insurance
- Prescriptions
- Fitness Programs
7. Personal
- Clothing
- Cleaning
- Electronic
- Self-Care Products
- Toletries
- Laundry
- Pet Care
8. Food
- Groveries
- Dining Out
- Food Reserves
- Meal Planning
- Protein Powders
- Supplements
9. Transportation
- Car Maintenance
- Auto Insurance
- Car Payment
- Fuel
- Registration
- Safety Check
- Public Transport
10. Entertainment
- TV
- Subscriptions
- Gifts
- Parties
- Movies
- Hobbies
- Vacations / Trips
11. Education
- Tuition and Fees
- Books
- School Supplies
- Dorm
- Extracurricular
