Income and Expenditure
What is Expenditure?
Expenditure refers to the money you spend or the costs you incur when purchasing goods or services, paying bills, or making any financial outlays. It’s essentially the money that goes out of your pocket or bank account to cover your expenses.
Common expenditures typically include:
- Rent or Mortgage Payments: Monthly housing costs for renting or owning a home.
- Utilities: Electricity, water, gas, and internet bills.
- Groceries: Money spent on food and household supplies.
- Transportation: Costs associated with commuting, such as gas, public transport, or car payments.
- Health Care: Expenses for health insurance, doctor visits, and medications.
- Insurance: Premiums for car, home, or life insurance.
- Debt Payments: Credit card bills, student loan payments, or other loans.
- Entertainment: Money spent on leisure activities, dining out, or streaming services.
- Education: Tuition fees, textbooks, or educational materials.
- Savings: Money allocated for savings or investments.
- Personal Care: Expenses for personal grooming, haircuts, and toiletries.
- Child Care: Costs related to childcare or babysitting.
- Clothing: Money spent on apparel and shoes.
- Home Maintenance: Repairs and maintenance for your residence.
- Taxes: Income taxes or property taxes.
- Charity or Donations: Contributions to charitable organisations.
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