It is essential that you don’t leave any of these off of your budget either! These are some of the basic budget categories most people will not intend to forget, but just might. You can’t live without your water and electricity. You will add this to your savings, but you can track it under your housing budget category. To figure out how much to budget, look over your prior year spending and divide that total by 12. But, make sure you include the amount you may save for repairs and other expenses. No one will forget to add housing to their budget. However, make sure you account for the different types of savings accounts you may have.Īnnual Fees, such as taxes, insurance, and duesĪdditional Retirement (outside of your employer’s plan) If you are in your employer’s retirement plan, you pay those before you get your paycheck, so you would not include them. Once you meet your necessary expenses, ensure you are saving enough each month. While not needed to live, it is crucial that you always pay yourself before you pay anyone else. Don’t forget about those you may make only once or twice a year as well! These are all of the monthly donations you make to various charities. Once you have your form, you are ready to figure out your budget categories! While you may not have each of these as individual line items on your form, just make sure you include them all somewhere in your budget! This form has helped thousands get started with creating a budget. To help you get a jump start on with your budget, and to make sure you don’t leave off any categories, download our free budget template. There, you will learn everything you want to know about budgets and budgeting.
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