EXPENDITURE:Means money going out . An example of this is buying a product of using a service.
OPPORTUNITY COST:Considering the current economic climate, we do not have enough money to buy all the goods and services that we would like, therefore we have to make choices. For example if we go into a shop with €5 and see a bottle of coke and a small tub of Ben & Jerry's ice-cream for €3 each you then have to make a choice. If you chose the coke, therefore the OPPORTUNITY COST is the Ben & Jerry's ice-cream.
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IMPULSE BUYING:Impulse Buying is spending money on something you haven't budgeted for. An example of this is when you go to the shop to buy a newspaper but you end up coming out with the newspaper and a can of coke.
FALSE ECONOMIES:False Economies are when you buy something that seems cheaper now, but that ends up costing you more in the long run.
FIXED EXPENDITURE:Fixed Expenditure Is when you spend money on goods and services each week, month or year, the rate never changes. An example of this would be your house mortgage.
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IRREGULAR EXPENDITURE:Irregular Expenditure is money that never stays the same, constantly changing. An example of this would be electricity bills, telephone bills and shopping bills.
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DISCRETIONARY EXPENDITURE:Discretionary Expenditure Is spending money on things that are not essential, luxury items. An example would be a holiday, car, chocolate, etc.
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