Menu Close

What are the 4 types of expenses?

Admin

What are the 4 types of expenses?

Terms in this set (4)

  • Variable expenses. Expenses that vary from month to month (electriticy, gas, groceries, clothing).
  • Fixed expenses. Expenses that remain the same from month to month(rent, cable bill, car payment)
  • Intermittent expenses.
  • Discretionary (non-essential) expenses.

What things do adults have to pay for?

Necessities often include the following:

  • Mortgage/rent.
  • Homeowners or renters insurance.
  • Property tax (if not already included in the mortgage payment).
  • Auto insurance.
  • Health insurance.
  • Out-of-pocket medical costs.
  • Life insurance.
  • Electricity and natural gas.

What are 5 fixed expenses?

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. Lease / car loan payment. Vehicle insurance (if paying monthly) Life / Disability / Extended health (or other) insurance.

What are the types of expenses?

Types of Expenses

  • Operating. Cost of Goods Sold (COGS) It includes material cost, direct. Marketing, advertising, and promotion. Salaries, benefits, and wages. Selling, general, and administrative (SG&A) It includes expenses such as rent, advertising, marketing.
  • Non-operating. Interest. Taxes. Impairment charges.

What are 10 examples of expenses?

Types of expenses

  • Cost of goods sold for ordinary business operations.
  • Wages, salaries, commissions, other labor (i.e. per-piece contracts)
  • Repairs and maintenance.
  • Rent.
  • Utilities (i.e. heat, A/C, lighting, water, telephone)
  • Insurance rates.
  • Payable interest.
  • Bank charges/fees.

What kind of expense is rent?

Rent expense is a type of fixed operating cost or an absorption cost for a business, as opposed to a variable expense. Rental expenses are often subject to a one- or two-year contract between the lessor and lessee, with options to renew.

How much does it cost to raise a child?

In the US, the average cost of raising a child through the age of 17 is $233,610. This figure is based on data compiled in the most recent Expenditures on Children by Families report completed by the United States Department of Agriculture (USDA).

How much does being an adult cost?

The Cost of Adulthood is $194,082.

What are everyday expenses?

Basic living expenses, as the name implies, are ones necessary for daily living, with main categories including housing, food, clothing, transportation, healthcare, and relevant miscellaneous costs.

What are essential expenses?

Certain expenses, though, must be paid to keep things running, such as housing costs, taxes, and health insurance for individuals and payroll, warehousing costs, and transport for businesses. These are considered essential expenses, as the income-earner must pay them on a regular basis or else suffer the consequences.

What are 5 types of expenses?

Types of Expenses

  • Cost of Goods Sold (COGS) Cost of Goods Sold (COGS)
  • Operating Expenses – Selling/General and Admin. Operating expenses are related to selling goods and services and include sales salaries, advertising, and shop rent.
  • Financial Expenses.
  • Extraordinary Expenses.
  • Non-Operating Expenses.

What are 3 types of expenses?

There are three major types of expenses we all pay: fixed, variable, and periodic.