Expenditure

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Expenditure

description

Expenditure. Opportunity Cost. Is making a decision/ choice based on limited/ scarce resources . The item not selected is the opportunity cost- opportunity foregone. Example I have €2.00. I can buy ice-cream or Pringles. I choose ice-cream. Opportunity cost = Pringles. - PowerPoint PPT Presentation

Transcript of Expenditure

Page 1: Expenditure

Expenditure

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Opportunity Cost

Is making a decision/choice based on limited/scarce resources.

The item not selected is the opportunity cost- opportunity foregone.

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Example I have €2.00. I can buy ice-cream or Pringles. I choose ice-cream. Opportunity cost = Pringles. Financial cost = €2.00

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Impulse Buying

Buying on the spur of the moment. Without thinking or planning. Eg.

We’re so cute!

Buy us

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False Economy

Buying something because it is cheap even when you don’t need it.

Eg 2 for 1 BOGOF…..

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Fixed Expenditure

Is money that is spent at the same time each week, month, year.

The amount is usually the same.

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Eg. Mortgage Rent Loan repayments

Insurance TV licence

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Irregular Expenditure

The amount paid out varies. It is paid at different times. Eg. ESB, heating, petrol, phone Groceries School uniform & supplies Shoes & clothes………

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Discretionary Expenditure

Is money you spend on things you can live without (luxuries)

The amount varies. Eg. Sky tv, playstation, Wii, brand name clothes, holidays, Presents, entertainment, alcohol,

cigs..

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Prioritising If you have a limited income you must

plan to spend. You must make sure you have enough

for: Fixed expenditure first, Then irregular expenditure And finally only if you have money left

can you afford discretionary expenditure.

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If you have a deficit

You must reduce Discretionary expenditure first.

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Current ExpenditureRevenue Expenditure

Is spending money on day to day items.

Eg.Food, drink, petrol, phone credit,

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Capital Expenditure

Is spending on durable items. Items that last a long time. Eg. Car, TV, house, furniture, Washing machine……

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Calculating and ESB Bill

Subtract present from previous meter reading.

Multiply by the rate per unit. Add the standing charge (rental of equipment)

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ESB Meter ReadingPresent 6734

Previous 5890

No of units used 844

Rate per unit .20

Sub total 168.80

Standing charge 10.00

Total charge 178.00

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ESB Meter Reading

Present 6534Previous -4850No of units usedRate per unit X.30Sub totalAdd Standing charge

+15.00

Total charge


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