Tag Archives: Budget Categories

Finacial Pitfalls: The Miscellaneous Category

One area that many people have a difficult time with is the miscellaneous category. This is a category where you tend to put in unexpected expenses. It can be difficult because you may be putting things in this category that do not really belong there. There are several expenses that you should not be putting into the miscellaneous category. Eating out is a common expense that is not planned for and then shuffled into the miscellaneous category. Other entertainment expenses, such as movie tickets, also get put into the miscellaneous category. These optional expenses should be planned for with a … Continue reading →

Are You Consistently Overspending in One Category?

What do you do if you consistently overspend in certain categories in your budget? Well the answer really depends on your situation and the categories that you are overspending on. If your money is tight and you do not have a lot of wiggle room you would take a different approach then someone who does not need to worry too much. You may want to consider raising the amount that you have allotted for that category. Of course to make that work you will need to take money from another category to even it out. If you are putting money … Continue reading →

Setting Up a Realistic Budget

One reason that budgeting fails for so many people is that they set up unrealistic budgets. Often they may sit down and arbitrarily decide how much they should spend on each category. They may not take into account once a year expenses, and they may not plan for emergencies. Or they may cut the amounts they spend too drastically, and blow the budget in a week or two, and then just give up all together. Here are five tips to set up a realistic budget. 1) Track your spending for a month. If you use mainly debit cards and the … Continue reading →