![]() Many apps allow you to add new categories, but some (like Mint) don’t allow you to delete or rename top-level categories. A list of suggested budget categories to get you startedĪs mentioned above, nearly all personal finance apps include a list of suggested budget categories. ![]() And read why Tiller emphasizes giving you control of your budget categories in this post. And it’s likely these preferences will change over time.īecause your choice of categories can be important for reaching your goals, and because they’re based on personal preferences, it’s no wonder people have strong opinions about naming them.įor example, browse this lively discussion in the Tiller Community. However, you probably prefer to use categories that are meaningful to you. Most personal finance software aims to simplify this step by using default categories, which sometimes can’t be deleted. How to choose your budget categoriesĬhoosing meaningful budget categories is the first step to understanding your financial situation. Or how you find an extra $100 you might put toward your credit card bill. ![]() Or see that you’re overspending on groceries, but not saving enough for vacation. They’re how you discover a subscription charge you didn’t expect. Your transaction categories are one of the most important parts of any system you use to track your money. More easily prepare your taxes and track deductions.See where you can save money and spend less.Build your budget based on real spending habits.Budget categories allow you to classify your spending, income, and transfers into logical groups so you can precisely understand how you use your money.
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