Quick Answer: What Is The Meaning Of Expense?

What is the best way to manage your money?

Here are seven steps to take to manage your money properly:Understand your current financial situation.Set personal priorities and finance goals.Create and stick to a budget.Establish an emergency fund.Save for retirement.Pay off debt.Schedule regular progress reports..

What are some examples of expenses?

Examples of ExpensesCost of goods sold.Sales commissions expense.Delivery expense.Rent expense.Salaries expense.Advertising expense.

What is another word for different?

How is the word different different from other adjectives like it? Some common synonyms of different are disparate, divergent, diverse, and various. While all these words mean “unlike in kind or character,” different may imply little more than separateness but it may also imply contrast or contrariness.

What is the meaning of expanse?

an uninterrupted space or area; a wide extent of anything: an expanse of water. something that is spread out, especially over a relatively large area: that great expanse, the sky.

What is expenses in simple words?

An expense is the cost of operations that a company incurs to generate revenue. As the popular saying goes, “it costs money to make money.” Common expenses include payments to suppliers, employee wages, factory leases, and equipment depreciation.

Is Rent A expense?

Rent expense is the cost a business pays to occupy a property for an office, retail space, storage space, or factory. For a retail business, rent expense can be one of its biggest operating expenses along with employee wages and marketing costs.

Is groceries a fixed expense?

Buying gas for your car each month is a variable expense, as are car repairs and maintenance. Grocery shopping is also a variable expense. … Variable expenses may be harder to cut back on than fixed expenses because they can affect your lifestyle.

What are the 4 types of expenses?

You might think expenses are expenses. If the money’s going out, it’s an expense. But here at Fiscal Fitness, we like to think of your expenses in four distinct ways: fixed, recurring, non-recurring, and whammies (the worst kind of expense, by far).

What is expense explain with example?

Costs that are matched with revenues on the income statement. For example, Cost of Goods Sold is an expense caused by Sales. For example, a retailer’s interest expense is a nonoperating expense. … A bank’s interest expense is an operating expense.

What is the opposite word of expense?

noun: income, implicit, indefinite, returns, return, product, uncertain, proceeds, doubtful, gain, profits, ambiguous, indeterminate, profit, implied, receipt, receipts, vague.

What is the English meaning of expenses?

expense | American Dictionary an amount of money needed or used to do or buy something; cost: [ C ] We have to start cutting down on our expenses.

What are synonyms for expenses?

Synonyms for expensescosts.damages.outlay.overhead.reparations.cost of living.per diem.

What is the difference of cost and expense?

The difference between cost and expense is that cost identifies an expenditure, while expense refers to the consumption of the item acquired. These terms are frequently intermingled, which makes the difference difficult to understand for those people training to be accountants.

What is another word for paying bills?

•check out (verb) depart, pay one’s bill, leave, settle up.

What are the 3 types of expenses?

Fixed expenses, savings expenses, and variable costs are the three categories that make up your budget, and are vitally important when learning to manage your money properly. When you’ve committed to living on a budget, you must know how to put your plan into action.

Is Internet a fixed expense?

Some examples of fixed costs include: Rent. Telephone and internet costs.

What is a fixed expense example?

Fixed expenses are those expenses that stay the same regardless of your sales or business activity and can have a significant impact on your cash flow and budget. Expenses like rent or mortgage, insurance, salaries, and some utilities fall into the category of fixed expenses.

What are monthly expenses?

Create a list of monthly expenses. While this includes your recurring living expenses, such as your rent or mortgage, car payment, and utilities, it also includes the more variable amounts you spend on haircuts, groceries, and clothes each month. Examine your expenses.