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

Fixed expense refers to any expense that doesn’t change from time to time. Examples of these expenses include utility bills, loan payment, and mortgage or rent payment, real estate, insurance premium and many more.

Fixed expenses are paid regularly. It can be paid weekly, monthly, or from year to year.  Fixed expenses cannot be changed easily.

These expenses can be budget easily because they are paid regularly. Some typical examples of fixed expenses are discretionary, for instance, gym membership, etc.

Fixed expenses are bills paid each month but its cost can still be lower. If you subscribed for a service that you don’t normally use, you can decide to opt for an alternate plan at a lower cost.

For example, you can consider opting for a cheap gym membership or cheaper streaming service.

It is possible to save more money every month if you lower your fixed expenses.

LEARN MORE:

KEYWORDS:

$9.41

step-by-step explanation: