What are the 5 categories of spending?

Housing. One of the most important budget categories is what you spend on the place you live.

What are the 7 categories of a budget?

7 Types of Personal Budgets

• Types of Personal Budgets.
• Budget Type #1: The No Budget Budget.
• Budget Type #2: Spending First Budget.
• Budget Type #3: Saving First Budget.
• Budget Type #4: The Anti Budget.
• Budget Type #5: The 50/30/20 Budget.
• Budget Type #6: The Zero Based Budget.
• Budget Type #7: The Spending Ceiling.

What should my budget categories be?

Budgeting 101: Personal Budget Categories

• A list of recommended personal budget categories is a great place to start when creating a budget. Here are two ways you can get the most out of the list:
• Housing.
• Transportation.
• Food.
• Utilities.
• Clothing.
• Medical/Healthcare.
• Insurance.

How do you categorize monthly expenses?

The Essential Budget Categories

1. Housing (25-35 percent)
2. Transportation (10-15 percent)
3. Food (10-15 percent)
4. Utilities (5-10 percent)
5. Insurance (10-25 percent)
6. Medical & Healthcare (5-10 percent)
7. Saving, Investing, & Debt Payments (10-20 percent)
8. Personal Spending (5-10 percent)

What should I include in a monthly budget?

Here are 20 common things to include in a budget:

1. Rent.
2. Groceries.
3. Daily Incidentals.
4. Irregular Expenses and Emergency Fund.
5. Household Maintenance.
6. Work Wardrobe and Upkeep.
7. Subscriptions.
8. Guests.

What are 10 categories of a typical budget?

The Essential Budget Categories

• Housing (25-35 percent)
• Transportation (10-15 percent)
• Food (10-15 percent)
• Utilities (5-10 percent)
• Insurance (10-25 percent)
• Medical & Healthcare (5-10 percent)
• Saving, Investing, & Debt Payments (10-20 percent)
• Personal Spending (5-10 percent)

What should a monthly budget include?

Your needs — about 50% of your after-tax income — should include:

1. Groceries.
2. Housing.
3. Basic utilities.
4. Transportation.
5. Insurance.
6. Minimum loan payments. Anything beyond the minimum goes into the savings and debt repayment category.
7. Child care or other expenses you need so you can work.

What is a typical monthly budget?

Key findings. The average household’s monthly expenses are $5,111 ($61,334 per year). The average annual income after taxes is $74,949. Housing is the largest average cost at $1,784 per month, making up 34.9% of typical spending.