ECONOMICS
MONEY MANAGEMENT
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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: -Fixed expenses generally cost the same amount each month (such as rent, mortgage payments, or car payments), while variable expenses change from month to month (dining out, medical expenses, groceries, or anything you buy from a store).
Detailed explanation-2: -Examples of fixed costs are rent and lease costs, salaries, utility bills, insurance, and loan repayments.
Detailed explanation-3: -A fixed expense is a bill that doesn’t change from month to month. Your monthly mortgage payment, insurance premiums, and childcare costs are examples of fixed expenses.
Detailed explanation-4: -Variable Expenses Definition. Variable expenses are the opposite of fixed expenses. A variable expense may recur from month to month. But the amount you pay in any given month could be different from previous payments or ones you’ll make in the future.
Detailed explanation-5: -Rent or mortgage payments. Car payments. Other loan payments. Insurance premiums. Property taxes. Phone and utility bills. Child care costs. Tuition fees. More items •06-Apr-2022