Question

When it comes to budgeting which of the following is considered a fixed expense

Answer 1

Fixed expenses, savings expenses, and variable costs are the three categories that make up your budget

Explanation:

The definition of fixed expenses is “any expense that does not change from period to period," such as mortgage or rent payments, utility bills, and loan payments. The amounts may vary slightly, which may be the case with utilities, but you know they are due on a regular basis. Here is a list of categories to include in your fixed expenses:  

· Mortgage(s)

· Rent

· Property taxes (if paying monthly)

· Strata fee / condo fee

· House / tenant insurance

· Utility bills (cable, cell, electricity, water, etc.)

· Lease / car loan payment

· Vehicle insurance (if paying monthly)

· Life / Disability / Extended health (or other) insurance

· Bank fees

· Debt payments for your debt repayment plan

Answer 2

Answer:

like rent or mortgage, a fixed expense is an expense that will be the same total amount regardless of changes in the amount of sales, production, or some other activity.

Explanation: