ECC Accounting Professor Featured in WalletHub’s Guide to Budgeting Basics

East Central College Accounting Instructor Lisa Hanneken was recently featured as an expert contributor in WalletHub’s article, “12 Common Budget Categories to Organize Your Spending.”

In the feature, Hanneken shared expert insights on developing a personal budget and emphasized the importance of categorizing expenses to support long-term financial stability.

“Creating a budget provides clear visibility into where income is going and helps align spending with personal goals,” she said.

Hanneken serves as an assistant professor in ECC’s Business and Accounting programs, where she integrates practical financial lessons into her coursework.

“When students learn how to apply budgeting principles to their everyday lives—such as managing rent, food, transportation, and savings—they gain valuable skills to make informed financial decisions beyond college,” she explained.

In addition to her teaching role, Hanneken was recognized earlier this year as a co-recipient of the inaugural Donald R. and Barbara D. Means Faculty Innovation Award for her role in implementing a HyFlex delivery model. The format allows students to attend classes in person, live online, or through recorded lectures, increasing accessibility for working and nontraditional students.

WalletHub’s budgeting guide highlights 12 key spending categories to help individuals organize expenses and plan effectively. Among the categories discussed are:

• Housing — rent, mortgage, utilities, repairs, and insurance.
• Transportation — car payments, fuel, public transit, and maintenance.
• Food — groceries, dining out, and delivery services.
• Insurance — health, life, auto, and home coverage.
• Savings and Investments — emergency funds, retirement contributions, and long-term goals.
• Debt Payments — credit cards, student loans, and other financial obligations.
• Entertainment and Personal Care — hobbies, streaming services, and wellness expenses.

The article also underscores the value of distinguishing between fixed, variable, and discretionary expenses—an approach that Hanneken often reinforces in her courses.

WalletHub is a leading personal finance website that provides free credit scores, research-based resources, and expert commentary to help consumers make informed decisions about money management.