What Are Basic Expenses?

What are examples of monthly expenses?

20 Common Monthly ExpensesHousing.

Your costs will vary significantly depending on where you live.

Transportation.

Food​ …

Utility bills.

Cell phone.

Childcare and school costs.

Pet food.

Pet insurance.More items…•.

What are the 4 types of expenses?

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 regular expenses?

Regular expenses occur on a regular basis. For example, you are charged rent or a mortgage every month. You anticipate these expenses and can plan for them. Periodic expenses do not occur on a regular basis and can sneak up on us at a time when we don’t have the money.

What are living expenses?

Living expenses are expenditures necessary for basic daily living and maintaining good health. They include the main categories of housing, food, clothing, healthcare, and transportation. … Housing: Whether you rent or own, there are regular expenses, including some you may not be aware of.

What are the biggest expenses in life?

Your four biggest expenses are — taxes, shelter, debt and recurring monthly expenses.

What are basic household expenses?

Home expenses will include everything related to your home, including items such as:Your monthly rent or mortgage payment.Utility bills such as electric, natural gas and water.Maintenance costs such as landscaping or housecleaning help, replacement light bulbs, etc.More items…•

What are the 3 types of expenses?

The 3 types of expenses include: fixed, variable and periodic.

How much money should I have after expenses?

The 50/20/30 Rule This rule suggests allocating 50 percent of your income for necessities like housing, utilities, food and transportation and 20 percent for debt payments and savings. Ideally, this leaves 30 percent for nonessential expenses like eating out, entertainment and vacations.

How much spending money should you have a month?

Most Canadians spend about $160 per month, or 5% of their monthly budget, on personal and discretionary items. This includes haircuts and personal grooming, entertainment (like going to the movies or dining out), tobacco and alcohol, gaming, and hobbies.