Mariam Youssef 
Most people require some method of tracking where their money goes each month. A spending plan may assist you in feeling more in charge of your spending habits and make saving money for your objectives easier. The goal is to find a method of tracking your earnings that's successful for you. To assist in planning and organizing your budget, here are 10 budgeting categories to organize your spending to understand the big picture of how you spend and save in order to meet your budgeting objectives.
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1- Housing
A housing cost is the cost that you pay to have a place to live. Rent or mortgage payments, property taxes, and home-related expenses are all included. This is by far the most important category for most budgeters.
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2- Transportation
Everyone, regardless of their location or lifestyle, needs to move from point A to point B. This budget area often comprises car costs, licensing and DMV fees, fuel, maintenance, parking, tolls, rideshare fees and public transportation.
3- Food
Although food is a requirement for human survival, it is also a budget item for the savvy planner. Whether you're grocery buying and preparing meals at home or exploring the local culinary scene, it's critical to budget for food. Many budgeters put grocery shopping and dining out (e.g., restaurant meals, business lunches, food delivery, etc.) in this category.
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4- Utilities
Utilities are often your gas, electric, water and sewage expenses. Households can also include "connectivity" charges such as cell phone bills, cable or online streaming services, and internet costs. Some people also pay monthly building maintenance fees that include the janitor’s salary among other things.
5- Insurance
This category depends entirely on your personal choices. Many budgeters will categorize insurance based on what they are insuring. Health insurance, for example, would be classified under "Healthcare." Your car insurance would fit under "Transportation," and both are perfectly fine – do whichever makes you feel the most organized.
6- Medical & Healthcare
According to the old proverb, "health is wealth." Maintaining your wellness and overall well-being is crucial, so make sure you budget enough to meet these expenses. You'll live a much better life in the long term if you prepare for basic medical care, such as annual physicals, dentist appointments, and psychological treatment. Moreover, always ensure that a part of your monthly salary is dedicated to sudden emergencies that might not be covered under your medical insurance.
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7- Saving, Investing, & Debt Payments
While we always hope for the best, our life can be unpredictable at times. If you are caught off guard by an unexpected medical expenditure, car accident, or loss of employment, you may find yourself in grave straits. It is important to note that this emergency fund is not the same as your retirement account, which is a long-term plan to assist you in your senior years. This category may additionally be used to pay off high-interest debt, such as credit card payments, personal loans, or school loans.
8- Personal Spending
This category includes everything that could be classified as a personal care or "lifestyle" expense. Personal expenses include gym subscriptions, clothing and shoes, home design and furniture, and presents.
Since some personal care products, such as shampoo and laundry detergent, are necessary, you might want to put them in your food budget category. After all, you most likely buy them along with your other supplies.
9- Entertainment
It's essential to have fun – we're strong believers in having a good time! Your entertainment category determines how much you'll spend in your spare time, so be cautious and modest in this area. In a nutshell, this home budget area contains all of your leisure and fun. You've earned it, so enjoy it any way you want!
10- Random
Finally, this house budget area is for anything that isn't covered by your other budget categories. It may also serve as an "overflow" category if you need some additional space. This means that if you have a larger family, you most likely spend a significant amount of money on clothing and haircuts for your children. If your "Personal Monthly Expenses" category is full, you can account for those expenditures under Random.
