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Build Your Budget — A Comprehensive List of Possible Budget Categories
As I work with new financial coaching clients, one of the first things that comes up as we build a budget is fear…fear they will miss something. While I always tell clients they undoubtedly will miss something, I wanted to develop a comprehensive list of potential budget categories to share with clients. And, with all of you!
Your budget needs will change regularly so add a periodic review of this list to see what changes you need to make to your budget categories. For example, I am currently saving money for moving expenses — something I had no anticipation of needing when 2023 started! Additionally, expenses may change based on time of year. That doesn’t mean you should start saving for them only during the month or two leading up to them. For instance, I pay for my car insurance in January each year. I include a portion of that amount in my budget every month. I make as many bills feel like monthly bills as possible.
This list was generated in partnership with ChatGPT by OpenAI’s May 24 version on June 11, 2023. This is the original list, and a restructure to put it in bulleted format shown below. From there, in accordance with my Manifesto on the use of generative tools, I reviewed every item and expanded and edited them significantly.
