Fixed Expenses - Deepstash
Fixed Expenses

Fixed Expenses

Expenses that stay the same from month to month, such as rent payments.

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MORE IDEAS FROM Budgeting Basics

NATALIE PACE

"A debt problem is, at its core, a budgeting problem."

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Disposable Income

The money you have left over after you subtract your income taxes from your income.

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Budgeting

Acknowledging areas where you are overspending can be an eye-opening experience. Creating a budget and sticking to it can help you save and reach your short- and long-term financial goals. This is not a one-time exercise.

Revisit and rework your budget if you have a financial windfall or setback so it reflects your current situation.

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Total Expenses

The combined amount of your fixed and flexible expenses.

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Total Monthly Income

The income from your job or other resources including investment dividends, pensions, Social Security benefits, rental income and more.

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Flexible Expenses

Expenses that change from month to month, such as how much you spend on utilities.

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RELATED IDEA

Common budgeting mistakes
  1. Not Tracking Expenses: it's impossible to stick to your budget if you don't know where your money is going.
  2. Buying on Impulse: Impulse buying is expensive. 
  3. Becoming the Victim of Budget Busters.
  4. Being So Frugal It Makes You Miserable: you’ll binge later and throw all your hard work out the window. 
  5. Trying to Do Everything as Inexpensively as Possible.
  6. Not Asking for Help.

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No matter how little or how much money you earn, creating a monthly budget is one of the most important aspects of managing your finances. What gets measured gets managed.

Having a budget doesn't stop you from spending money the way you want it to, but works like a partner to track your spending and allocating resources to help you reach your financial goals.

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Budget for the life you have. When you’re going through your budget and assigning spending categories, be realistic. 

Don’t tell yourself you’ll never buy a single discretionary item, because you’re setting yourself up for failure. Give yourself some breathing room.

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