ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -You might think expenses are expenses. If the money’s going out, it’s an expense. But here at Fiscal Fitness, we like to think of your expenses in four distinct ways: fixed, recurring, non-recurring, and whammies (the worst kind of expense, by far). What are these different types of expenses and why do they matter?
Detailed explanation-2: -Fixed expenses, savings expenses, and variable costs are the three categories that make up your budget, and are vitally important when learning to manage your money properly. When you’ve committed to living on a budget, you must know how to put your plan into action.
Detailed explanation-3: -Housing expenses consist of shelter (mortgage payments, property taxes, or rent; maintenance and repairs; and insurance), utilities (gas, electricity, fuel, cell/telephone, and water), and house furnishings and equipment (furniture, floor coverings, major appliances, and small appliances).
Detailed explanation-4: -Housing or Rent. Housing and rental costs will vary significantly depending on where you live. Transportation and Car Insurance. Travel Expenses. Food and Groceries. Utility Bills. Cell Phone. Childcare and School Costs. Pet Food and Care. More items •25-Jan-2023