Explanation of "Personal Expense"
Definition: A "personal expense" is a noun that refers to the money you spend on things for yourself or your family. These are costs that are not related to business or work. For example, when you buy groceries, pay for your rent, or go out to eat, these are considered personal expenses.
Usage Instructions:
Use the term "personal expense" when discussing your own spending habits or financial planning.
It is often used in contexts involving budgeting, taxes, and financial management.
Example Sentences:
"I need to track my personal expenses to see where my money goes each month."
"Some personal expenses, like medical bills, can be deducted from your taxes."
Advanced Usage:
In more advanced discussions, "personal expenses" can be categorized into different types, such as fixed (like rent) and variable (like entertainment). Understanding these categories can help with better financial planning.
Word Variants:
Different Meanings:
While "personal expense" generally means spending for oneself, the word "expense" alone can refer to any cost, including business or operational costs.
Synonyms:
Personal costs
Household expenses
Individual spending
Idioms and Phrasal Verbs:
"Cut back on personal expenses": This means to reduce the amount of money you spend on personal items.
"Balance your personal expenses": This refers to ensuring that your income covers your personal spending without going into debt.
Conclusion:
A "personal expense" is an important concept in managing your finances.