10 Household Budgeting Categories You and Your Partner Should Know!

Household Budgeting Categories– It is not uncommon for many young couples to encounter new problems in their early marriages. Starting from dealing with each other's characteristics and daily habits, to adapting to financial problems in the household.

Well, usually, most of the new couples do not have the ability to manage finances well. So, don't be surprised if in the early days of your marriage, you and your partner often spend even bigger money each month. In fact, sometimes they spend more than the income. But, don't make the previous statement an excuse to spend more every time you get groceries!

Then, how to avoid this? One of them is to understand household budgeting categories. This is certainly very useful so that you can avoid financial problems in the future. Are you curious about what household budgeting categories you should understand as a young couple? So, come on, let's see the following explanation!

Read also: Please Note! 8 Ways to Keep Your Household Finance Safe


10 Types of Household Budgeting Categories

1. Emergency Fund

Check this out, 10 Types of Household Budgeting Categories

Having an emergency fund is the first and foremost thing in managing household budgeting categories. This is because an emergency can happen at any time. Usually, emergency funds are used for the unexpected.

So, what are these unexpected funds about? Unexpected funds such as illness, damage to household goods, layoffs from work, bankruptcy, natural disasters, and other disasters that require funds or expenses as soon as possible.

Therefore, let's try from now on to start setting aside your money for this emergency fund. Also, for couples who already have children, you should even prepare more for an emergency fund that can be about nine times your total monthly expenses! It is to make sure everything is covered.

For example, for those of you who have an income of IDR 3 million, then you should have an emergency fund of around IDR 27 million. In order not to be used for other purposes, you should keep it in a separate place from the money you're going to use, OK!

2. Living Cost

Check this out, 10 Types of Household Budgeting Categories

In addition to an emergency fund, you have to make living expenses a top priority. This category certainly aims to organize your daily needs.

In this category, you should precisely determine how much it costs to eat daily, pay for electricity, and so on. Do not let these needs have a very large cost. You can sort out the funds according to your monthly income as well.

Well, to make this household budgeting category, of course you have to prepare a household budget. You can make it monthly or daily using tables or money management applications. One of them is the Whiz Money Management App.

In essence, this budget depends on your and your partner's needs!

3. Installment Payment

Check this out, 10 Types of Household Budgeting Categories

Next, this installment payment category is for those of you who still have installments. You and your partner must allocate a few percent of your income to pay the installments each month.

In addition, you also have to make sure that the amount of installments covered is no more than 30% of your income. Why? This is because if it is more than 30% of the income then your financial burden will be much heavier.

You can also allocate 30% of your money for savings purposes, emergency funds, or others if you don't have any installment bills at all. Therefore, your financial condition will be maintained and can avoid you from being wasteful.

4. Social Cost

Another financial item to watch out for is social costs. Social activities, such as charity and helping others are very important activities to do, but many people forget it.

So, to make this budgeting category not become too much of a burden, you can start setting aside your monthly income of at least 2.5% to 10%.

Even though you don't need it every month, you still have the courtesy to do this so you still have to have set aside some money for this social cost.

5. Housing

Housing is a basic need for humans. However, building a house also requires a large amount of money and effort. Because of that, some young couples prefer to rent or live at their parents' house.

Even so, don't worry. You and your partner can make a household budgeting category to buy your dream house. The trick is, you have to be willing to set aside your income to pay for mortgage installments.

To make it happen, you can consult experts about how to buy a house. By consulting experts, you can still balance the budget for housing with other needs.

Besides, you can also use the Whiz Money Management App so that your financial budget remains stable.

6. School Fees

The cost of education is not cheap, as we know. For those of you who have just married and want to have children, then the budgeting category regarding education fees must be prepared thoroughly.

Therefore, you and your partner can try to set aside 10 to 15 percent of the income for education or school fees. By doing so, your child will get a quality education.

7. Insurance Health and Life Insurance

Insurance is a household budgeting category that is no less important, dear Whizparents! This is because the medical treatment is not cheap. With health insurance, it will be the best solution for everyone when a family member suddenly falls ill and needs intensive care.

In addition to health insurance, you must also have life insurance. By having both, your finances will not be disturbed if at any time something unwanted happens. However, make sure that the insurance you choose is registered with the OJK (Otoritas Jasa Keuangan or Financial Services Authority)!

8. Investment

Currently, many young couples are looking for investment! As we know, investment can be used to tackle inflation every year. However, investments have a much higher interest rate than deposits.

Nevertheless, don't worry! To create an investment budget, try setting aside 10% of your income per month to put in an investment that is legal and safe.

9. Travel Budget

In the midst of busy work, vacation can be the most appropriate shortcut torefresh your tired body and mind. Well, this means that you and your partner must have a budget for a vacation.

You can simply set aside 5% of your income for a vacation. Don't forget to always be consistent in setting aside your money, OK! That way, your vacation dreams can be realized any time you want to forget about work.

10. Old Age Pension

You and your partner need to think about life in old age. Therefore, start saving and preparing these funds so that your old age is just filled with having fun without worrying too much about the next bills.

It's easy to start setting aside some of your income for this budgeting category. It doesn't have to be big, but it's important to be consistent. Later on, when you are consistent and all the money is collected, living in your old age won't sound too bad.

Read also: Note This, 7 Millennial Family Financial Planning Tips


Those are the 10 types of household budgeting categories that you need to take note of. A great money management will not make you and your partner face some fatal financial problems. Hopefully, those tips can be useful and don't forget to use the Whiz Money Management App, OK!

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