12 common budget categories

A W. P. Carey economist shares strategies to budget effectively.

In this article published March 12, 2026, on WalletHub:

According to the Bureau of Labor Statistics, housing and transportation comprise 50% of household spending. It's important for households to accurately budget for these expenses as they are often not discretionary. Food comes in next at just under 13%. It's easy to think you can make adjustments in food budgets by trading down to cheaper products or cutting out restaurant meals but be realistic.

— Cara E. McDaniel, clinical professor and assistant chair of economics