Housing expense is a fixed expense, Food expense is a variable expense, Insurance and medical expense are variable expenses, Entertainment expense is variable expense and Savings for retirement expense is also a variable expense.
What do you mean by the fixed expenses and variable expenses?
Fixed expenses are those expenses, which remain constant in each month. Some of the fixed expenses are monthly rent, insurance premium etc.
Variable expenses are those expenses, which can be changed. It is unpredictable such as repairs, medical expenses etc.
Fixed expenses generally remain the same each month.
Learn more about the fixed and variable expenses here:-
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