Fixed Costs: These are expenses that typically remain constant or don't vary much from month to month. Examples include car payments, monthly phone bills, insurance, printer ink, student loans, and credit card payments.
Variable Costs: These are expenses that can fluctuate and are often discretionary. You have more control over these costs and can adjust them based on your needs or preferences. Examples include food, entertainment, power bills, clothes, gadgets, and laundry.
let's categorize the items in the list as either fixed or variable costs:
Fixed Costs:
Car payment
Monthly phone bill
Insurance
Printer ink
Student loan
Credit card payment
Variable Costs:
Food
Entertainment
Power bill
Clothes
Gadgets
Laundry