BANKING AFFAIRS

Detailed explanation-1: -An essential expense (fixed or variable) is one that cannot be reduced in order to save more money, whereas a non-essential expense is one that should be eliminated and directed to savings.

Detailed explanation-2: -earn more money. What is most likely the reason variable expenses should be planned after fixed expenses? Fixed expenses are required and constant, but variable expenses are more flexible.

Detailed explanation-3: -Property inventories are generally used by taxpayers to calculate gain or loss on the sale of a property, as well as to report losses of property to insurance companies.

Detailed explanation-4: -Art, antiques, stamps, books, coins, trading cards and comic books are common types of collectibles. Rare collectibles often fetch higher prices, and the value of collectibles tend to appreciate over time.