Budget Categories to Help You Master Your Money

The time and effort you put forth into building your initial budget can be time-consuming. However, once you build your personal budget, managing it regularly is going to be relatively easy.

Education/ Childcare

This is a huge grey area because childcare costs could be essential for some and non-essential for others. Regardless of where you fit.

This is another grey area because household expenses are essential, but they could be excluded for a few months if you really needed to tighten your budget.


Personal Care

Personal care is another category that could be tightened if necessary. While many things included in personal care are essential, others could be cut altogether if necessary.

An emergency fund is something that everyone should have and something everyone should allocate money to in their budget.

Emergency Fund


It’s also advised that you start by contributing to an employer-sponsored 401k at least up to any employer match.

Sinking Fund

Sinking funds can be used for various items, such as the maintenance/non-regular expense items listed above.

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