EXPENSES

There are two types, or classes, of Expense: Monthly Payments, and Occasional Expenditures.

Monthly Payments are payments due on or about the same day each month, often for the same amount. Because the Due Date and Amount are known in advance (your monthly statement), they are easy to budget for.

Occasional Expenditures are any expense that isn't a Monthly Payment. For example, if you pay your auto insurance monthly, it is considered a Monthly Payment; you will list it on The MONTHLY PAYMENTS Table. If you pay your auto insurance quarterly, it is considered an Occasional Expenditure; you will list it on The OCCASIONAL EXPENDITURES Table.

Best keep it simple: any expense that is not a Monthly Payment is an Occasional Expenditure.

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