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Household Expenditure (Guidelines for effective spending (Prepare a budget…
Household Expenditure
Guidelines for effective spending
Prepare a budget
Prioritise expenditure
Avoid impulse buy
Beware of false economies
Consider opportunity cost
Check bills invoices and interest rates
Solutions to overspending
Cut back on spending
Spread large payments over a long period of time
Use savings or surplus money from previous months
Generate extra income
Borrow money
Postpone non-essential spending
Expenditure
Fixed Expenditure
Regular basis
Not dependent on usage
Examples
Car tax
Rent
Irregular Expenditure
vary with usage
less predictable
Examples
Discretionary Expenditure
Non-essential items
Satisfy our wants rather than our needs
Examples
Current expenditure
Continuous
Regular
Examples
Rent
