Examples are groceries, electric bill, fuel bill, taxes and insurance to mention a few. Unexpected expenses are those expenses you did not see coming. An example would be going for your inspection of your car and not passing because there is something that must be repaired.
Even the most carefully crafted budget can sometimes fail to cover those pesky unwanted and unexpected expenses.
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A truly unexpected expense is something that you can't predict, such as a natural disaster or a medical emergency. These are the things that could happen to you at any time, but you can never be sure if they will – or how much they'll cost you if they do.
How to best handle unexpected expenses
7 unexpected college expenses you may want to budget for
I have an Emergency Fund and then I also have a couple of other funds in ING for unexpected expenses. One is actually called 'unexpected expenses' and one is called 'car fund'. The car fund is used to pay for emergency repairs (like when the windshield cracked last time).
While the size of your emergency fund will vary depending on your lifestyle, monthly costs, income, and dependents, the rule of thumb is to put away at least three to six months' worth of expenses.
You might think expenses are expenses. If the money's going out, it's an expense. But here at Fiscal Fitness, we like to think of your expenses in four distinct ways: fixed, recurring, non-recurring, and whammies (the worst kind of expense, by far). What are these different types of expenses and why do they matter?
There are three major types of expenses we all pay: fixed, variable, and periodic.
An expense is the cost of operations that a company incurs to generate revenue. As the popular saying goes, “it costs money to make money.” Common expenses include payments to suppliers, employee wages, factory leases, and equipment depreciation.
1. personal expense - the cost of personal or family living; "some personal expenses are tax deductible" disbursal, disbursement, expense - amounts paid for goods and services that may be currently tax deductible (as opposed to capital expenditures)
There are two prices for every college degree: the sticker price and the net price. The sticker price is the number that most schools list in their brochures. The net price is that very same number less scholarships, grants and financial aid. It is what you actually pay.
All students need to have a budget for personal expenses such clothing, personal items, laundry, going to a movie, or buying a pizza. ... Expenses vary from one student to the next based on their particular needs and life style, particularly with regard to transportation.
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