Flexible expenses vary over time.
Flexible Expenses
Yes but you can NOT deduct the medical expenses that are paid for from your FSA account.
Cost centers generate expenses only. A comparison of the actual expenses with the flexible budget amounts allowed at that level is the most effective.
A fixed expense is an expense that will cost you the same month by month. Such as rent, mortgage, car payment, student loans, ect. Flexible expense, refers to expenses that vary month by month, like your gas, phone, and electric bill. Flexible expenses may also include money budgeted for clothes,food, entertainment, and savings. Things that may not cost you the same month to month. It's important to know the difference so you can budget accordingly. Source: http://answers.yahoo.com/question/index?qid=20071101143515AABFl80
new clothing
Flexible expenses vary over time.
Flexible expenses vary over time.
Flexible Expenses
Figure out your income,List your expenses,Categorize your expenses,Determine if expenses are below income, and Reduce expenses in flexible categoris if nessecary.
Figure out your income,List your expenses,Categorize your expenses,Determine if expenses are below income, and Reduce expenses in flexible categoris if nessecary.
Yes but you can NOT deduct the medical expenses that are paid for from your FSA account.
You can only pay for medical expenses with your flexible spending account. You can pay for x-rays, prescriptions, doctors visits, hospital visits, and eye visits. Your company should have a list of all eligible expenses.
*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
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.
Cost centers generate expenses only. A comparison of the actual expenses with the flexible budget amounts allowed at that level is the most effective.
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