Fixed expenses: These are fairly constant costs, such as: B. Monthly Rent or Mortgage.
Variable expenses: These are costs that vary or are unpredictable, such as: For example, eating out or fixing a car.
Typical variable costs include B. Painting or maintaining the garden. General expenses like clothes, groceries, and car maintenance. Cost of resources such as fuel, electricity, gas, and water.
Fixed costs are defined as "expenses that do not change between periods," such as mortgages, rent, utility bills, and loan repayments. Amounts can fluctuate a bit, as with utility companies, but we know we have to pay them regularly.
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