Let's Talk About the "B" Word

Becentsable is discussing a series to help readers tackle the dreaded “B” word. BUDGETING!

Making categories helped me to make the budgeting process easier and quicker. I created a category for each of the areas we spend money or save money by grouping like items.

Tracking less categories makes it easier to budget.

I have one category for all my household items. Which includes all of my food, cleaning supplies, personal care, baby needs, over the counter medicine and office supplies. Therefore, I am tracking 1 category instead of 6 separate items.

There is no right or wrong way to budget, you just need to develop a plan and stick with your budget.

Make a list of all the things you spend money on and save money for. Once you have your list try to group items together.

Here is a list of my categories:
- Auto – gasoline & oil changes
- Church and Charity – donations to church, charities or fundraisers
- Entertainment – Eating out, drinks, kids activities (dance class), and attractions. Anything fun ends up in the area. I even include birthday parties!
- Household – food, cleaning supplies, personal care, baby needs, over the counter medicine and office supplies. I also include anything else I would buy for the house, such as a rake or a new broom.
- Housing – house payment
- Gifts-gifts for birthdays, Christmas, showers, weddings, Father’s Day etc.
- Clothing-clothing, shoes and accessories (socks, purse, hats, gloves, jewelry)
- Insurance – auto and health-care insurance payments
- Savings – any money going to savings. Including saving for taxes, vacation, medical, retirement etc.
- Utilities – electric, gas, water, trash, phone, Internet and cable. (I also include my cell phone in this area.)