Fixed vs Variable 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 = 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 = 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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