Identifying The Four Expense Types
Question: Variable expenses
Answer: Expenses that vary from month to month (electriticy, gas, groceries, clothing).
Question: Fixed expenses
Answer: Expenses that remain the same from month to month(rent, cable bill, car payment)
Question: Intermittent expenses
Answer: Expenses that occur at various times throughout the year and tend to be in large amounts(tuition payment, car repairs)
Question: Discretionary (non-essential) expenses
Answer: Expenses for things we don't need (eating out, gifts, snacks)