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** This lesson is generated with AI assistance and approved by Danny Nelson. This lesson will communicate the essence of the topic for now until Danny can create a full lesson. **
A variable expense is a cost in personal finance that fluctuates from month to month based on usage, choices, or external factors, unlike fixed expenses that remain constant.
Common examples include groceries, utilities like electricity or water, entertainment, dining out, and gasoline, which can vary depending on consumption or lifestyle decisions.
These expenses are less predictable, making them crucial to monitor closely in a budget to avoid overspending.
Managing variable expenses often involves tracking spending patterns and making adjustments.