Expenditure Flashcards
Financial cost
The amount of money paid on something
False economy
Spending money on something which initially appears to save money but over a long period of time it costs more money
Impulse buying
Unplanned expenditure
Opportunity cost
The item you must do without in order to buy another
Fixed expenditure
Money you know you are going to spend, usually weekly or so
Irregular expenditure
When the amount you spend or time changes. Opposite to fixed
Discretionary expenditure
Buying things we do not need eg a holidays
Current expenditure
Ongoing spending on items that give benefit for a short period of time
Capital expenditure
Spending on an item that has long term benifit
Consumer durable goods
Goods that will give the buy benefit for a long period of time
What is expenditure?
Spending on goods and services we use
