Fixed vs Variable Expenses

​Fixed vs variable expenses

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​Learning goal: Mathematicians will decide whether expenses are variable or fixed.

Open Ended

What are some things you or your parents spend money on?

Open Ended

The table shows some of the expenses that Charlie pays each month. What do you notice? What do you wonder?

​Classify expenses

• An expense is ​money used to buy goods or services.

• ​An expense can be classified into two groups, fixed or variable.

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​Fixed Expenses

FIXED = STAYS THE SAME​

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• Fixed expenses stay the same each month and cannot be easily adjusted.

• ​Examples of fixed expenses include rent, car payments, internet service, and insurance payments.

• Usually these payments are expected and are needs.​

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​Variable Expenses

Variable = CHANGES OR VARIES​

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• Variable expenses change from month to month or week to week

• ​Examples of variable expenses include entertainment, groceries, or clothes shopping

• Usually these payments are wants but can also be needs.​

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Multiple Choice

Choose the expense type: dinner in a restaurant

• Fixed Expense

• Variable Expense

Multiple Choice

Choose the expense type: monthly rent

• Fixed Expense

• Variable Expense

Multiple Choice

Choose the expense type: birthday gift to a friend

• Fixed Expense

• Variable Expense

Multiple Choice

Choose the expense type: monthly club membership dues

• Fixed Expense

• Variable Expense

Multiple Choice

Choose the expense type: gasoline for the car

• Fixed Expense

• Variable Expense

Multiple Choice

Choose the expense type: monthly cell phone bill

• Fixed Expense

• Variable Expense

Multiple Choice

Choose the expense type: repair for a flat tire

• Fixed Expense

• Variable Expense