![]() Since they occur every so often, the amount you’re charged can change from one billing cycle to the next. Periodic expenses aren’t necessarily fixed amounts though. It’s most common to pay them quarterly, every six months, or once per year. But instead of incurring them every month, they’re less frequent. ![]() Like fixed costs, your periodic expenses occur regularly. By spending on them, you’ll not only feel pleasure, but you’ll also be getting the biggest bang for your buck! #3 – Periodic Expenses These are a select few desires that add to your mental and emotional well-being the most. ![]() To keep your flexible expenses in check and have an enjoyable lifestyle, try prioritizing your spending to your most important wants. Without realizing it, they may spend emotionally to make up for deficiencies in other areas of life, causing them to over-consume and go over budget in the process! Because of this, many people’s spending also gets carried away on these types of expenses. ![]() Most people spend heavily on flexible expenses because they tend to improve your quality of life. For example, you could go to Starbucks or brew coffee at home, just as you might decide to attend a sporting event instead of watching one on TV. Your flexible expenses also include your day-to-day spending and many times there are less expensive options available. They include the material possessions you want to own as well as the experiences you’d like to enjoy! Common Examples of Flexible Expenses Most often, these types of expenses get associated with your lifestyle choices. Not only that, you get to decide the extent you’re going to spend on them, too! You get to choose which ones to include in your budget based on your values and priorities. You have greater control over your flexible expenses than your fixed ones. The amount you spend on them typically changes from one month to the next and as your desires change, too. While fixed expenses tend to be consistent, your flexible expenses vary. Also, since they consume such a large portion of your income, a small reduction in them can significantly decrease your burn rate! #2 – Flexible Expenses By refinancing your loans and shopping for less expensive service providers, you’ll likely save money.
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