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Household Expenditure

Description

Mind Map on Household Expenditure, created by Time for Business sample on 18/02/2016.
Time for Business sample
Mind Map by Time for Business sample, updated more than 1 year ago
Time for Business sample
Created by Time for Business sample over 8 years ago
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Resource summary

Household Expenditure
  1. What is expenditure?
    1. How people choose to spend their income
    2. Types of expenditures
      1. Fixed
        1. Mortgage
          1. Rent
            1. Car tax
              1. TV licence
                1. Insurance
                2. Irregular
                  1. Groceries
                    1. Utility bills
                      1. Education
                        1. Clothing
                          1. Fuel
                            1. Repairs
                            2. Discretionary
                              1. Entertainment
                                1. Holidays
                                  1. Gifts
                                2. Current vs Capital expenditure
                                  1. Current
                                    1. Continuous/regular
                                      1. Bills
                                        1. Education
                                          1. Travel
                                          2. Capital
                                            1. Once-off/less regular
                                              1. Furniture
                                                1. Car
                                                  1. Electronic goods
                                                2. Effective spending guidelines
                                                  1. Prioritise expenditure
                                                    1. Avoid impulse buying
                                                      1. Beware of false economies
                                                        1. Consider opportunity cost
                                                          1. Check bills
                                                          2. Dealing with overspending
                                                            1. Cut back on spending
                                                              1. Spread payments over time
                                                                1. Postpone spending
                                                                  1. Use savings
                                                                    1. Earn extra income
                                                                      1. Borrow money
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