Definition

Noun: - An expenditure of money for individual or household needs and wants: A "personal expense" is a cost incurred by an individual or a family for their private consumption, living, or lifestyle, as opposed to business or investment costs. These are typically not reimbursed by an employer.

Usage

This term is commonly used in contexts like budgeting, accounting, tax preparation, and personal finance to categorize private spending. - It is often contrasted with business expenses. - In tax contexts, most personal expenses are not deductible, with specific exceptions defined by law (e.g., some medical or educational costs).

Examples

Advanced Usage

• "To cover/pay for personal expenses": To use one's own money to pay for private costs.
  • She used her savings to cover her personal expenses while she was unemployed.
• In formal financial or legal documents, the term specifies the nature of an outflow of funds.
  • The trust fund can be used for education but not for general personal expenses.

Variants and Related Words

• Living expenses (n): Costs required for basic maintenance of daily life (e.g., housing, food). This is a common subtype of personal expenses.
• Out-of-pocket expense (n): An expense one pays with one's own money. This can be for personal or business purposes.
• Household expense (n): An expense related to running a home, a category within personal expenses.

Synonyms

• Private expenditure
• Individual outlay
• Personal spending

Antonyms

• Business expense
• Capital expenditure
• Reimbursable cost

Related Phrases

• "At one's own expense": Paid for by oneself.
  • He attended the conference at his own expense.
• "Foot the bill for (something)": To pay for something.
  • Who will foot the bill for these personal expenses?

Noun

1. the cost of personal or family living
   • some personal expenses are tax deductible