Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [expenses]

a generic tag related to spending. To be used along with other related tags like accounting etc

a generic tag related to spending. To be used along with other related tags like accounting etc

171 questions
56
votes
20 answers

Are there any financial disadvantages to living significantly "below your means"?

By living "below" your means I'm asking about spending significantly less than you could, rather than living "within" your means which of course is sensible if you are able to do it! So for example: Buying a house that's much smaller / in a worse…
seventyeightist
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43
votes
12 answers

How to manage monthly salary

I am a 22-y/o guy starting my first job. I am interested to know how I should manage my monthly expenses. Keeping in mind that I need to pay for my rented apartment, food, water, etc., save money for future and medical expenses, etc., how do I…
Debanik Dawn
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40
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14 answers

Is $20/day and $603/month (USD) a lot, average or little for one person's "food and related" costs?

I've calculated that I eat for $603/month or $20/day (assuming 30 days in an average month). I do not live in the USA, but "basically the same" ("the West"). I've been trying, but failing, to get a nice list of current average amounts per-country,…
Karnell A.
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28
votes
5 answers

What method do I use to pay current expenses while paying off credit card debt?

I’m hoping you can help me with a question that seems very hard to google for some reason. I have $20K in debt on 4 cards, and I have set up a plan to pay off the deferred card on time, and the highest interest after that while still paying minimums…
Chelsea
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28
votes
2 answers

Charging the company I work for to rent from myself

I have a Vacation Rental By Owner (VRBO) rental in a city that the company I work for (large company - W2) requires I travel to regularly. I am authorized to use either hotels or VRBO/AirB&B rentals when I travel. Is there any financial / tax reason…
maplemale
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22
votes
1 answer

What is fuel surcharge in India?

In Bangalore (INDIA), when you purchase fuel with cash, you never have to pay for a 'fuel surcharge'. When you pay for it using your credit or debit card, a fuel surcharge is added on later? What and why do they do this?
letterhead
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22
votes
7 answers

"Buy assets, not liabilities": How is it possible to buy a liability?

Some personal finance gurus such as Robert Kiyosaki claim that people should "buy assets, not liabilities". This made me wonder: is it even possible to buy a liability? From what I have observed, everything I have spent my money on is either an…
Flux
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19
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2 answers

What should I reserve "emergency savings" for?

Should I reserve my "emergency savings" solely for times of unexpected unemployment, or keep these savings flexible enough to cover other unforeseen critical needs?
Sam Erde
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17
votes
3 answers

Should there be a copay after "out-of-pocket maximum"

I have individual health insurance and have met my out-of-pocket maximum due to a surgery earlier this year. I saw my (in-network) PCP this week and was still charged the regular $30 copay. Should that have been waived, will I get a check back, or…
Gary
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17
votes
6 answers

How to account for startup costs for an LLC from personal money?

If I start a business (LLC, specifically) and incur some of the startup costs with my own money, how do I account for this in the bookkeeping once the LLC's bank account is up and running? For instance, on my own personal books, I have an expense…
Rich
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16
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3 answers

Can I send back money I "loaned" from my personal account to business account?

I opened a self-employed business (in the UK). As a starting budget I sent £100 from my taxed salary to my business account to have something on it. Can I send it back from my business account to my personal account without having to pay any tax on…
Gergő Horváth
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15
votes
3 answers

What does an IRS interview request entail when called in to verify expenses for a sole proprietor small business?

I received an IRS audit for the following: I had to call them within 10 days to confirm receiving the letter. And I've scheduled an appointment 2 weeks later. They basically said I just need to come in with bank and credit card statements for the…
Patoshi パトシ
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12
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6 answers

How to determine how much to charge your business for rent (in your house)?

I started a business this year and have a dedicated room in my home for this business. How do I determine the rate at which I will charge the business rent for the space?
Brian David Berman
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12
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3 answers

How do I efficiently add credit card expenses to my monthly budget?

I use a credit card for most of my purchases as I get to keep money in my account for a longer duration and that earns me extra interest. But I have been having a little difficulty to include the expenditure in my monthly budget as the billing cycle…
Codename
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12
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8 answers

What expenses do most people not prepare for that turn into "emergencies" but are not covered by an Emergency Fund?

I'm looking for expenses that most of us should be planning for, but that we may not think about. Some of these would be re-occurring expenses that happen infrequently, while others would be one time expenses that are likely to occur at some point.…
Leigh Riffel
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