How to Control Fixed vs. Variable Expenses
Welcome to our Hoyes Michalos Debt Free Digest where we round up personal finance topics from around the web to help you live, and remain, debt free.
Your budget consists of two main types of expenses: fixed and variable. Is one easier to control than the other? Which type of expense gives you the biggest bang for your buck when it comes to managing your budget? We help you learn about these two expense terms.
What are Fixed vs. Variable Expenses?
Watch this short explainer video, as Certified Credit Counsellor Diane Cunha explains what fixed and variable expenses are while she gives you tips to control each type of cost.
Good Reads From Around the Web
How to Cut Back on Your Fixed Costs
Just because something is a fixed cost, doesn’t mean you can’t reduce or eliminate it to make more room for savings or other needed expenses. In this post by Be The Budget, get advice on how to lower your fixed costs so you can save more money.
Control Your Variable Expenses
Variable expenses can be the hardest to manage because they fluctuate. Think: groceries and gas. Because these costs change so often, you need to make room for variable expenses in your budget so you don’t come up short when it comes time to pay.
In this post by The Penny Hoarder, learn how to budget for variable costs to avoid breaking your budget.
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