Students must be able to tell the differences between an expense, a fixed expense and a variable expense.
Colton’s parents were talking one night at supper about the different kinds of expenses they have in their monthly budget. Colton knew about budgets, but wasn’t sure he understood what they meant when they talked about fixed and variable expenses. His parents explained that fixed expenses were those that were the same amount every month. What are some fixed expenses in your family? What expenses might be variable?
Click on the following links for more information.
4.10 Personal financial literacy. The student applies mathematical process standards to manage one's financial resources effectively for lifetime financial security. The student is expected to:
(A) distinguish between fixed and variable expenses