Question

question 1 lets practice your budgeting knowledge. below is a list of several types of expenses you might have in a month. identify whether the expense is a fixed expense, a variable expense, or an unexpected expense (and, as such, might require money from an emergency fund). drag each item to the correct location. fixed expense variable expense unexpected expense/emergency fund fast food washing machine repair bill cell phone bill cable bill mortgage payment water bill

Explanation:

Fixed expenses are regular and consistent, variable expenses change based on usage, and unexpected expenses are unforeseen. A mortgage payment is a fixed - amount due regularly, so it's a fixed expense. A cable bill is usually a set amount each month (fixed). A cell phone bill can vary depending on usage (variable). A water bill can vary based on consumption (variable). Fast food spending depends on how often one eats it (variable). A washing machine repair bill is an unexpected cost that might require emergency funds.

Answer:

Fixed Expense: mortgage payment, cable bill
Variable Expense: fast food, cell phone bill, water bill
Unexpected Expense/Emergency Fund: washing machine repair bill