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Flexible expenses vary over time.
new clothing
Accounting business software is very helpful for creating invoices and tracking expenses. Some examples of accounting software are UNIT 4 Software and Net Suite.
Payments like house mortages or car payments are fixed expenses, they can't change. Flexible expenses, like food, entertainment, gas money and clothes are flexibe, and can be changed whenever you are low on money or need something specifically.
Total your income.Figure out how much money you are spending.Categorize your expenses to show where your money goes.Determine if your expenses are above or below your income.Reduce expenses in flexible categories to save or increase savings. OR 1. Add up all sources of income 2. Calculate all expenses - this may take several tries because you may forget items 3. Categorize different expenses 4. Determine if expenses are below income 5. Reduce expenses in flexible categories - required vs luxury
Flexible expenses vary over time.
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Flexible expenses vary over time.
utilities
Flexible Expenses
utilities
Example of periodic expenses are; Car insurance premium,property taxes, holiday expenses, expenses on certain seasonal activities.
Functional expenses are expenses grouped together according to the purpose for which the expense occurred. Some examples of this would be administrative expenses, program expenses, or cost of goods.
new clothing
Out-of-pocket expenses is money paid by an individual that will later may or may not be reimbursed. Some examples include interest on deposits, FICA tax, and buying equipment.
Expenses in forms ofConveyancePostageStationary & PrintingRepairs & Maintenance (Minor) are some examples
Figure out your income,List your expenses,Categorize your expenses,Determine if expenses are below income, and Reduce expenses in flexible categoris if nessecary.