Hence , the housing expense is mounted expense , food expense is variable expense, insurance and expense is variable expense and emergency fund is mounted expense.
- Fixed expenses: These are prices that mostly stay constant, like your monthly rent or mortgage.
- Variable expenses: These are prices that fluctuate or are unpredictable, like feeding out or automotive repairs.
Fixed expense and variable expense:
Housing expense refers to mounted expense since the House rent remains constant per month for many years and afterward, it should modification.
Food expense refers to variable expense that since family doesn't have constant food a day and therefore the rate of purchase of food would possibly modification a day within the market.
Insurance refers to the variable expense because the there is chances of getting sick all members in a mother as well as not at any member get sick .
Emergency fund refers to mounted expense as it is fixed price everyone has to give for future .
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