Thursday, 22 October 2020, 12:07 AM
Site: MoneyU
Course: MoneyU (MoneyU)
Glossary: MoneyU Glossary of Terms

Variable Expenses

Expenses that can change from month to month. Variable expenses include necessities that can be reduced (such as food and utilities) and non-essentials that could be eliminated (e.g., long distance charges, cable, magazine subscriptions, etc). Reducing these expenses is the simplest step in getting control of your finances.

Variable Interest Rate

A variable interest rate is based on fluctuating rates in the banking system, such as the prime rate. For example, if on January 1, the prime rate was 6 percent and your credit card's variable rate formula was the prime rate plus 9.9 percent, your interest rate would be 15.9 percent (see prime rate).

Volunteer service

Working to help others or oneÔÇÖs community without being paid.