Building a Budget

Step two: estimate your expenses

Here is where you write down what you think you'll be spending in the category areas. Here are some sample categories. You can change these to whatever works for you.

Housing
•Rent or Mortgage
•Property Taxes

Food
•Groceries
•Restaurant Meals
•Lunches at Work
•School Lunches

Utilities
•Electric
•Gas
•Telephone
•Long Distance
•Water
•Garbage
•Other

Personal
•Prescriptions
•Laundry / Dry Cleaners
•Hair Care
•Clothing
•Toiletries

Family
•Medical / Dental / Vision
•Pet Food / Supplies / Veterinarian
•Child Support
•Alimony
•Day Care
•Baby Sitting
•Children's Allowance
•Parent Support
•Other

Basics
•Furniture
•Appliances
•Linens
•Utensils
•Tools
•Home Cleaning / Repair Supplies
•Other

Transportation
•Car Payment
•Gasoline
•Oil, etc.
•Repairs
•Tires
•Registration / Inspection
•Public Transportation
•Parking
•Other

Insurance
•Car
•Life
•Property / Casualty
•Disability
•Renter
•Burial
•Other

Recreation and Entertainment
•Hobbies
•Vacation
•Shows / Movies
•Sporting Events
•Dining / Entertaining
•Club Dues
•Alcohol
•Tobacco
•Lottery Tickets
•Reading Materials (Books, Newspapers)
•Cable TV
•Other

Gifts / Contributions
•Church / Synagogue
•Charities
•Birthdays
•Holidays
•Weddings
•Other

Savings
•Regular
•Occasional
•Retirement Contributions
•Investments
•Bonds
•Other

Miscellaneous
•School Tuition / Dorm / Apartment / Supplies
•Union Dues
•Professional Fees
•Lessons
•Household Business Expenses
•Legal Fees
•Installment / Credit Card
•Checking Account Charges
•Other

Taxes (This would be for income other than your check if you're using net payroll numbers.)
•Income Tax
•Social Security
•Medicare
•State Taxes (not sales tax)
•Other

(If you're not paying the full balance on your credit cards each month, be sure to keep track of how much you're charging as well as how much you're paying and how much interest is being added to the unpaid balances on your accounts.)