Budgeting

Front

Car insurance is a ____________ expense

Back

fixed

Front

Electricity is an example of a ______ expense

Back

variable

Front

A vacation is an example of a _________

Back

want

Front

Groceries are an example of a __________ expense

Back

variable

Front

Car Insurance is classified as a __________ Expense

Back

Fixed Expense

Front

Define 'fixed expense'

Back

An expense that does not change regardless of usage, such as rent or insurance.

Front

Define 'variable expense'

Back

An expense that can change based on usage, such as electricity or groceries.

Front

What is a 'need'?

Back

A necessity for survival, such as food, water, and shelter.

Front

What is a 'want'?

Back

A desire for something that is not essential for survival, such as luxury items.

Front

Give an example of a fixed expense.

Back

Monthly rent or mortgage payment.