Question

pick a formula that you found especially challenging. Provide a complete explanation and a worked out example for the rest of the class.

Micro expenses are the small expenses we have on a recurring basis. Examples of micro expenses include buying a cup of coffee, buying an item from a vending machine, and eating out. How do micro expenses add up over time? How can micro expenses affect your personal finances? Think about your daily life. What could you do differently to cut down on your micro expenses? 

Thinking back over the last five weeks, what was your favorite topic? What topic was your least favorite? How do you think you will use this information in the future?

 
 
math 216

Answer 1

Ans-Micro expenses are the small expenses we have on a recurring basis. Examples of micro expenses include buying a cup of coffee, buying an item from a vending machine, and eating out.sometime we telling ourself that we are going to stop,going grocery shopping and then still eating out & wasting even more money.

It is important to find out how much you are really spending on these specific small expenses categories. This can be done in a few ways.

1.Write down all your expenses based on category for an entire moth. or set a reminder on your cell phone it will make you aware of what you are spending & why?

2.If you are using cash then record it manually or if you are using card then check your transaction on daily basis that how much you have spent in a day.

3.If you have blown your budget the first thing need to do is reduced the amount of money that you spend each day.Depending on how tight your budget is, you may need to stop all spending completely.

4.Try to cut from my pocket on grocery will make a food from the thing available at home.

5.while going to the office take your lunch with you instead of having from cafeteria & i will have my breakfast at my home before leaving to office.

6.consider  necessity. expenses should be done avoid luxry expenses or hold it for sometime.

7.will do some part time work to get some extra income.

8.i will save money for rainy days because some expenses come suddenly like scooty repair or death of any person in family.

9.if my budget planning is not working properly then i will made neccessary changes in it & make it again.

10 i will avoid online shopping because they have their margings as well instead of do online shopping i will go for window shopping & will compare the price 7 will buy according to my pocket as the grocery items like rice & pulses can taken without brand as well.

11. i will void going to clubs for sometime to save money.

if i will think about my last month then it was little messy because that month was over my budget, that time my favorite topic was how i can save money till my salary will come?afcourse we learn from our experience i will make my budget & will not go beyond it as it makes my hamper at the last of the month . i will avoid to use my credit card as well because i shouldn't use it for small expenses because i have to pay it with interset after a month.