8 Budget Categories To Include In Your Financial Plan

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Housing

Rent or mortgage, property taxes, homeowners or renters insurance, and maintenance are included in housing.

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Utilities

Electricity, gas, water, trash, and other residential utilities should be included.

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Transportation

Include car payments, fuel, maintenance, insurance, public transportation, and other transportation costs.

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Groceries

Track food and household expenses. This category organizes daily expenses.

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Healthcare

Include insurance premiums, co-pays, prescriptions, and other healthcare costs.

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Debt Payments

Debt payments include credit card, student, and personal loans. Include minimum payments and extra payments to reduce debt faster.

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Savings

Set aside money for savings and investments. Retirement, emergency, and other long-term financial goals are examples.

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Entertainment

Budget for leisure activities like dining out, movies, concerts, and hobbies.

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