I have just started using Rocket Money, and I am creating a budget every month. Should I put my rent payment in the Bills/Utilities area, which is distinct from all other discretionary spending, or should I create a new category just for rent?
Rent should go under the bills/utilities area, in my opinion, since those are the items that you HAVE to pay each month. Though I know it is not that important, I find things like this annoying.
I just started using Rocket Money too, and I’ve been thinking about the same question regarding rent payments. From my experience, I’d suggest putting rent under the bills/utilities category. It’s one of those non-negotiable expenses that we all have to manage each month. Having it separate from discretionary spending helps keep a clear view of what’s essential versus what’s optional. I found that keeping things organized this way makes budgeting less of a headache. I can guarantee it’ll simplify things for you too
Rent is often recorded as an expense in financial records. It falls under operating expenses. This classification enables organizations to measure and manage the amount they spend on renting office space, manufacturing facilities, or retail locations.