List three things you spend money on each month that would be fixed expenses.
- Rent/Mortgage for your house
- Insurance (ex. Car insurance)
- Utilities (ex. Electricity, water, etc)
List three things you spend money on each month that would be variable expenses.
- Food
- Clothing
- Recreational/Leisure activities
If you needed to save some money, how could you change your spending?
You could change your spending by altering your budget. You could review your spendings per month and limit some variable expenses (i.e. Not going shopping every weekend) so that you can save more money for whatever you may need it for.
How much money could you save in a month without giving up too much?
You could decide that you will save a small percentage of your monthly salary(incoming money), so that you are saving money while also leaving yourself money for your fixed and variable expenses.