Online and Mobile Baking are great tools for keeping track of your money. If you’re out of money, then you need to look closely at where you spent your money and how you can do better. If you have money left over at the end of the month, then you did well in keeping your variable expenses in check. Your fixed expenses should be deducted first from your budget. It’s a lot harder to control how much you spend on utilities, but you can limit your bills by turning off lights in rooms you’re not using, keeping the heat or air conditioning at a moderate temperature, and using less water whenever possible. If you live off campus, then some of your other variable expenses will include electricity, water, heat, sewer, and garbage. When you spend carefully, you’ll put more money back into your month. The more you spend, the more you’ll chip away at your monthly budget. In college, your variable expenses include entertainment, clothing, gas, coffee, and eating out. Variable expenses are more-than-often ‘want’ items. And choosing slower connection speeds can save you a lot on your internet service bill.
Call your insurance agent and ask about discounts. Ask about a less robust plan for your smartphone. Items such as wireless phones, car insurance, and internet access can be negotiated in most cases. It is possible to trim your fixed expenses. But they often remain consistent until rates increase. The biggest fixed expenses you’ll have in college are tuition, room and board, as well as your car payment (if you have one), car insurance premiums (if you have a car), as well as your wireless plan and internet service.
3 TYPES OF FLEXIBLE EXPENSES HOW TO
We’ve compiled a quick look at the differences between fixed and variable expenses and how to put that knowledge to good use.Ī fixed expense is basically a ‘need’ item. But by understanding the difference between fixed and variable expenses, you can more easily find ways to put your expenses on a diet and stay true to your fixed college budget.
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