Fixed Vs. Variable Expenses
Is rent a fixed or variable expense?
Fixed
What is an emergency fund used for?
Unexpected expenses
Is rent a need or a want?
Need
Is electricity a fixed or variable expense?
Variable
How much should you aim to save each month?
10–20% of income
Is Netflix a need or a want?
Want
Is car 'a fixed or variable expense?
Fixed
True or False: An emergency fund should cover 3–6 months of expenses.
true
Is groceries a need or a want?
Need
Is groceries a fixed or variable expense?
Variable
If you save $50 a week, how much in 6 months?
$1,200
Is designer shoes a need or a want?
Want
Is a gym membership a fixed or variable expense?
Fixed
What’s the first step to building an emergency fund?
Start saving a small amount regularly
Is electricity a need or a want?
Need