Our Favorite Budget App for Cheer Moms: Part 3, Setting Up Category Groups

In YNAB, categories allow you to organize your spending into “digital envelopes.” For cheer expenses, we’ll create category groups that help us break down the budget by specific needs, like fees, competitions, and apparel. Let’s get started on building a structure that will make budgeting for cheer much simpler.

Why Use Category Groups?

Category groups allow you to compartmentalize your cheer expenses. Think of them as broad sections in your budget that will hold all related spending categories. (We'll add the specific categories in our next post!)

Setting Up Category Groups:

1. Mandatory Fees: This includes things like gym fees/tuition, competition fees, and annual registration fees. These might be paid once a year or monthly.
2. Competitions: This is where we'll budget expenses during the actual competitions, such as entry fees, travel costs, and accommodations. 
3. Apparel & Accessories: From uniforms to cheer shoes and bows, this group is where we’ll plan for all the essentials.
4. Everything Else: This will cover anything outside the basics, like snacks, team gifts, or cheer celebrations. This might be the most important group for cheer families!! The expenses in this group used to sneak up on me: think irregular, but inevitable, spending like holiday gifts, team bonding events, and team photos.

Tips for Effective Grouping:

Keeping these groups distinct makes it easy to quickly glance at your budget and see where each cheer dollar is going. Category groups are essential for a well-organized budget, and with our cheer-related groups set up, we’re now ready to start filling each one with specific categories. Next up: creating categories and setting goals to make assigning money a snap!

-Lexie

PS: Ready to take control of your cheer expenses? Try YNAB free and test out this proactive budgeting method yourself. Use our referral link to start your free month—no strings attached—and make your cheer budget work for you.