Learn more about how it works in our Rocket Money review. This way you can view expenses by category, merchant or date. The free app will pull your recent expenses to tell you where your money is going. This budget isn’t for anyone else but you and your family, so accurately tracking your expenses to develop these categories is key. If you spend $1,000 a month on food, don’t put down $500. When approaching these essential categories, it’s best to be as accurate as possible. In other words, you can’t put them off until next month. These five categories are monthly obligations for most people. Still, there are some things all people should budget for. There are many different budgeting methods, as everyone has different needs. This allows us to survive whatever unplanned expenses hit that month. Any unplanned expenses go inside this category. This is the most important category in our budget. This term came from the popular budgeting software, You Need A Budget. In my family’s budget, we created a “Stuff I Forgot To Budget For” category. You don’t know what will happen, nor how much, but you do know there will be some unplanned expenses in the future. But here’s the thing - they happen every month. When these things happen they can wreck an entire month’s budget. Medical bills and health care costs accrue. Unplanned expenses will happen.Ĭars break down. Instead of hoping for the best, it’s best to plan for the worst. The One Personal Budget Category Every Budget Needs Making Personal Budget Categories Personal.Six Flexible Budgeting Categories You Don’t Want to Miss.The Five Essential Budgeting Categories.The One Personal Budget Category Every Budget Needs.
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