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Fixed vs Variable Expenses

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Fixed vs Variable Expenses

Classify expenses, work with a simple budget, and explain how budgeting choices can help manage money.

Recognising expense types

Some costs are regular and stay about the same each payment period. Other costs can change with use or choices.

1.Complete the definitions: A regular expense usually stays about the from one payment period to the next. Another type of expense can .

2.A household pays the same rent each month. Which type of expense is this?

Fixed expense
Variable expense

3.The amount spent on weekend activities differs each month. Does this cost usually stay about the same or change from month to month?

Stay about the same
Change from month to month

4.A phone plan has a set monthly fee. Which type of expense is the plan fee usually?

Fixed expense
Variable expense

Sort the expenses

Classify each item by its usual pattern. Some costs can vary depending on the agreement or how much is used.

Weekly food shopping — F or V?

A monthly streaming subscription with a set fee — F or V?

Petrol for a car — F or V?

A regular insurance payment with a set premium — F or V?

New clothes bought when needed — F or V?

A bus pass that costs the same each month — F or V?

An electricity bill that changes with usage — F or V?

Cinema tickets bought for a chosen outing — F or V?

A monthly budget

Freya has set aside money for these costs this month. Use the amounts below for the questions.

Phone plan: $28

Bus fares: $36

Lunches: $52

Sports and entertainment: $44

Savings: $30

5.Calculate the total amount Freya has planned for these five items.

6.Freya wants to put an extra $12 into savings. If she reduces her sports and entertainment budget by $12, how much will remain for that category?

7.Name one item in Freya's plan that is likely to be easier to adjust than her phone plan. Explain why.

Managing a budget

8.Match each expense with a sensible way to manage it.

Rent with a set monthly amount
Food shopping
Optional outings
Insurance payment

Use a shopping list and compare prices
Plan for the agreed amount each month
Set money aside and pay by the due date
Choose a spending limit

9.Costs that change with use or choices are often easier to change than regular costs that usually stay steady over a payment period.

TrueFalse

10.A regular expense must stay exactly the same forever.

TrueFalse

11.When planning a budget, it is useful to allow for regular essential costs before deciding how much is available for optional spending.

TrueFalse

12.Explain one reason why knowing which expenses are regular and which can change can help someone make a budget.

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Fixed vs Variable Expenses

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3 printable pages

About This Worksheet

Free in Kuraplan

Print-Ready

AI-Generated

For Teachers & Parents

Need a custom version of this worksheet?

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