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Household Expenditure

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Junior Certificate Business Studies Mind Map on Household Expenditure, created by Time for Business by Edco on 23/02/2017.
Time for Business by Edco
Mind Map by Time for Business by Edco, updated more than 1 year ago More Less
Time for Business sample
Created by Time for Business sample about 8 years ago
Time for Business by Edco
Copied by Time for Business by Edco about 7 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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