Pick the 2 correct statements about fixed and variable expenses.

Question

Pick the 2 correct statements about fixed and variable expenses.

CHOOSE 2
Fixed expenses are unchangeable

Fixed expenses are influenced by your daily choices and behaviour

You should review your variable expenses annually

You should price check all your service providers once a year

Managing your variable expenses requires continuous planning

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1 answer
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Answer 1

Bot GPT-4o answered
4 months ago

The two correct statements about fixed and variable expenses are:

1. **You should price check all your service providers once a year.**
2. **Managing your variable expenses requires continuous planning.**

Fixed expenses are typically consistent and predictable each month, such as rent or mortgage payments, whereas variable expenses can fluctuate based on your consumption and behavior, such as groceries and entertainment. Regularly reviewing service providers can help ensure you're getting the best rates, and continuous planning for variable expenses can help manage and control your budget effectively.