Expenditure

Question 0

Irregular Expenditure

Answer 0

Income spent at different times of the week, month, year .etc.

Petrol
Heating Costs
Telephone Bills
Electricity Bills

Question 1

Fixed Expenditure

Answer 1

Income spent at different times of the week, month.etc.

Mortgage
Rent
Road Tax

Question 2

Discretionary Expenditure

Answer 2

Spending on items we can live without

Holidays
WII
Play station
Nintendo 
IPods

Question 3

3 Types of Expenditure

Answer 3

Fixed, irregular and discretionary

Question 4

Current Expenditure

Answer 4

Spending on items that don’t last long
Usually less than one year

Groceries, petrol

Question 5

Capital Expenditure

Answer 5

Spending on items that last long
Usually more than one year

Shower, chair, iPad

Question 6

Financial Cost

Answer 6

The actual amount of money an item costs

Question 7

False Economy

Answer 7

Spending on something that will cost more than what it was bought for

Buying cheap weak tyres

Question 8

Impulse Buying

Answer 8

Buying on the spur the moment

Coming home with 3 puppies just because they were cute

Question 9

Opportunity Cost

Answer 9

When you choose between items that is hard/scarce to find.

The item not chosen is the opportunity cost

Question 10

Consumer Durable Goods

Answer 10

Buying Capital Expenditure

Question 11

Opening Cash

Answer 11

Money someone has at the start of a month or period of time

Question 12

Closing Cash

Answer 12

Net Cash + Opening Cash