Having a place to put all of your stuff and somewhere dry to lay your head should probably be your biggest priority, so as you can imagine this category will be a be large portion of your budget. Along with the mortgage, insurance and property taxes, make sure you include repairs and necessary utilities like gas and electric.
Remember that when it comes to transportation, it’s more than just your car payment. Gas, insurance, repairs, and preventative maintenance like oil changes should also be included. Planning ahead will help keep your car on the road, which will keep money in your pocket.
This category is huge. You could definitely make several categories out of this one, but if you want to group it all together, it should include the following: cell phone, food (at home or at a restaurant), health insurance, medicine, clothing, entertainment (a trip to the movies or Netflix), tuition, childcare, etc. All of these things will add up to a large percentage of your budget, so if separating some into their own category will help you keep a closer eye on things, definitely do that.
This final category is one of the most important. Saving money for you future (401k, Roth) is something you want to make sure you’re doing every month. The earlier you start, the better, and you’ll be surprised how a little bit each month can add up. Compounding interest wants to be your best friend. Also make sure you’re steadily paying down your debt, whether it’s credit cards or student loans, focus on paying them off and enjoy the freedom you’ll feel when that’s accomplished.