Some expenses are required every month. A place to live, a way to get around, and nutritious food to eat are things you can’t live without. Every month you make rent or mortgage payments and spend money on utilities as well as transportation. Many people also pay for different types of insurance and some pay for school fees and loans.
These expenses are things you can’t do without. This is half of your budget. If you lose your job, or have an unexpected emergency expense, these are the things that you will still have to spend your money on.
However, some things, like a new pair of designer jeans or 999 channels of your television, are things you want