Question

Identify the various types of personal expenses of a young professional who is single and living on their own. i do have to explain for each one

Answer 1

PERSONAL EXPENSES OF A YOUNG PROFESSIONAL WHO IS SINGLE AND LIVES ALONE ARE AS UNDER-

1) RENT OF PROPERTY

A professional living alone would be required to pay the rent for the property in which he stays. This rent forms the major part of his personal expense for which fixed amount has to be paid monthly

2) SWEEPING AND CLEANLINESS EXPENSE

Being a professional, he won't get time to clean his room where he stays due to which he has to keep a sweeper or worker to help his room clean.

3) FOODING EXPENSE

whether he cooks at his own home or he keeps a maid to cook, in both the cases he is required to incur expenditure on food, vegetables etc.

4) ENTERTAINMENT EXPENSE

"All work and no play, makes Jack a dull boy". Working for the whole day consumes a lot of energy. we need entertainment to refresh ourselves. The professional might incur expenditure on Gym, Clubs, Movies, parties etc.

5) TRAVELLING EXPENSE

Although, this expense will not be too much if taken on average but it can still be considered. Professional who stays alone would be moving out to visit his family and friends once or twice a week for which he will incur travelling expenses. Further, travelling from his room to his office will also make him incur certain expenses.

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