Final answer:
Nonessential spending refers to expenses that are not necessary for basic survival or essential needs. Examples include eating out at restaurants, buying luxury items, going on vacations, or subscribing to streaming services.
Step-by-step explanation:
Nonessential spending refers to expenses that are not necessary for basic survival or essential needs. These expenses are usually discretionary and can be cut or reduced without significantly impacting one's quality of life. Examples of nonessential spending include eating out at restaurants, buying luxury items, going on vacations, or subscribing to streaming services.