What is the difference between a Monthly Budget and a Category Budget?

The difference between a Monthly Budget and a Category Budget lies in how you allocate and track your expenses:

Monthly Budget: A Monthly Budget sets a limit on how much you can spend overall (across all categories) within a specific calendar month. It helps you control your total expenses across all categories combined for that month. 

 To know more about monthly budget, follow this link : How to Create a Recurring Monthly Budget?

Category Budget: A Category Budget focuses on setting limits for specific spending categories, such as groceries, entertainment, utilities, etc. within a specific calendar month. It allows you to monitor and manage expenses within each category individually, regardless of the overall monthly total. 

To know more about category budget, follow this link : How to create category budget?

In summary, while a monthly budget manages your total spending for the entire month, a category budget breaks down your spending limits by specific expense categories. This distinction helps in fine-tuning your financial management and tracking where your money goes in more detail.