Sample Categorization Systems
Inspiration and ideas for quick start
The following examples provide ideas on how to structure your personal finance categories within YAFFA. These systems are designed to help you categorize both income and expenses effectively, ensuring you can track where your money is coming from and how it is being spent. Feel free to adjust these systems based on your personal financial situation and goals. YAFFA allows you full flexibility to create categories that suit your needs, whether you prefer a simplified view or a more detailed breakdown.
System 1: Simple, One-Level Categorization
This system is ideal for users who want to keep things straightforward, tracking income and expenses with minimal detail.
Income Categories:
- Salary
- Other Income (e.g., bonuses, side jobs, interest)
Expense Categories:
- Housing (rent, mortgage)
- Utilities (electricity, water, gas)
- Groceries
- Transportation
- Entertainment
- Healthcare
- Insurance
- Clothing
System 2: Simple, Two-Level Categorization
A moderately detailed system, offering more insight by breaking top-level categories into relevant subcategories for better clarity.
Income Categories:
- Salary
- Main Job
- Bonuses
- Other Income
- Side Job
- Rental income
Expense Categories:
- Housing
- Rent/Mortgage
- Maintenance/Repairs
- Utilities
- Electricity
- Water
- Gas/Heating
- Groceries
- Food
- Household Supplies
- Transportation
- Public Transport
- Fuel
- Vehicle Maintenance
- Entertainment
- Dining Out
- Subscriptions (streaming, music)
- Events (movies, concerts)
- Healthcare
- Doctor Visits
- Medications
- Health Insurance
- Insurance
- Home Insurance
- Car Insurance
- Debt Repayment
- Credit Cards
- Loans
System 3: Complex, Two-Level Categorization
This comprehensive system allows for detailed tracking of income and expenses, with an emphasis on granular financial analysis.
Income Categories:
- Salary
- Main Job
- Bonuses
- Other Income
- Freelance Work
- Rental Income
- Government Benefits
- Child Allowance
- Social Assistance (e.g., family benefits)
Expense Categories:
- Housing
- Rent
- Property Taxes
- Repairs/Maintenance
- Home Improvements
- Utilities
- Electricity
- Gas/Heating
- Water/Sewer
- Internet/Cable
- Groceries
- Food
- Household Products
- Personal Care
- Clothing
- Transportation
- Car Payments
- Public Transport
- Fuel
- Parking
- Maintenance/Repairs
- Entertainment & Leisure
- Dining Out
- Subscriptions (TV, music, gym)
- Hobbies/Activities
- Vacations/Travel
- Events (concerts, cinema, theater)
- Healthcare
- Doctor/Dentist Visits
- Medications
- Health Insurance Premiums
- Vision/Dental Care
- Insurance
- Home Insurance
- Auto Insurance
- Life Insurance
- Disability Insurance
- Debt Repayment
- Credit Card
- Student Loans
- Personal Loans
- Mortgage Overpayments
- Education & Development
- Courses/Training
- Books/Supplies
- School/University Fees
- Miscellaneous
- Gifts/Donations
- Pet Care
- Fines
- Legal Fees
Conclusion:
- System 1 offers a minimalistic approach for users who don’t need much detail.
- System 2 strikes a balance between simplicity and insight, providing useful subcategories.
- System 3 is designed for those seeking a highly detailed breakdown of their finances, perfect for comprehensive financial analysis and long-term planning.
These examples can be adapted to individual needs, allowing users to pick the level of detail that suits their financial habits and goals.
Explore YAFFA
More features and further details
Check out other features of YAFFA personal finance application, or learn more by reading the detailed documentation.
Features
Lear more about the features of YAFFA personal finance application
Documentation
Read detailed guides how to get started with YAFFA personal finance application
Categories
Learn about categories in YAFFA, how they support your financial journey
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