What are examples of variable expenses?

By definition, a variable expense is a cost that changes depending on your production level….Examples of variable costs

Packaging costs.
Utilities, like electricity and water.
Credit card and bank fees.
Hourly wages and direct labor.
Shipping costs.
Raw materials.
Sales commissions.

How do you write personal expenses?

Grab a Pen and Paper Pen and paper is the traditional way of keeping track of your personal expenses. It’s also the method many people still use, even though we’re surrounded by electronic devices. By writing down your expenses in a notebook, you will have to focus solely on that.

How do I write my daily expenses?

How the Daily Spending Sheet Works

Print several sheets.
Hang one each month in a central place, like your fridge.
Every day when you get home, write down anything you’ve spent.
Figure out where you stand in the Summary table: earnings – spending = balance. (Carry over last month’s balance if you want.)

What is an example of variable monthly expenses?

Variable expenses are defined as such because the amount you spend may vary each month. Buying gas for your car each month is a variable expense, as are car repairs and maintenance. Grocery shopping is also a variable expense. Your utility bills may also be variable expenses because they may change from month to month.

What are living expenses?

Living expenses are expenditures necessary for basic daily living and maintaining good health. They include the main categories of housing, food, clothing, healthcare, and transportation. Understanding what’s involved in each of these areas will help you to budget for them.

What is a fixed monthly expense?

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. Property taxes (if paying monthly)

What is a good food budget for one person?

Average grocery bill for 1 If you’re a single adult, depending on your household budget, look to spend between $175 and $345 each month on groceries.

How much money should you spend a week on food?

Here’s what the USDA recommends per week for a family of four, defined by the USDA as a male and female 19 – 50 years old and two children 2 – 11 years old: Thrifty: $131 – $150. Low-Cost: $167 – $197. Moderate-Cost: $206 – $246.