I have two questions.
1. Describe at least two non-discretionary expenses that you expect to have at some point in your life.
2. Describe at least two discretionary expenses that you expect to have at some point in your life.
help please
list at least two non- discretionary expenses listed on the bank statement or check register
Sure, I can help you with that!
1. Non-discretionary expenses are essential or mandatory expenses that you have little control over and are likely to occur in your life. Here are two examples:
a. Rent or Mortgage Payments: Unless you own a home outright, you will likely have to pay rent or mortgage payments. This is a non-discretionary expense because it is necessary for having a place to live.
b. Utilities: Expenses like electricity, water, gas, and internet are typically non-discretionary. They are necessary for basic living and are not easily avoidable.
To identify non-discretionary expenses in your life, you can review your regular bills and recurring payments. These expenses are generally fixed and essential for meeting your basic needs.
2. Discretionary expenses, on the other hand, are optional or non-essential expenses that you have control over. Here are two examples:
a. Travel and vacations: Taking trips, going on vacations, or exploring new places falls under discretionary expenses. These expenses are not necessary for survival but provide enjoyment and personal fulfillment.
b. Dining out or Entertainment: Going to restaurants, movies, concerts, or other recreational activities are discretionary expenses. They are not essential for daily life but can provide leisure and entertainment.
To identify discretionary expenses, look for expenses that are not part of your regular bills or necessary for survival. These expenses are often flexible and can be adjusted based on your personal preferences and budget.
Remember, everyone's expenses can vary based on individual circumstances and lifestyle choices. It's important to understand your financial priorities and allocate funds accordingly to ensure a balanced budget.
Obviously, we have no idea about your expenses.
Be sure you understand the word "discretionary."