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Expense

Meaning:

An expense is the money spent to buy goods or services for personal use or business operations. Simply put, an expense is the amount you pay to meet your needs, wants, or responsibilities.

Example:

If you buy a toy for ₹300, that ₹300 is your expense.

How to understand expenses:

Expenses help manage daily life by covering essentials like food, rent, and bills.

Tracking expenses is important to ensure you don’t spend more than you earn.

Importance of expenses:

They reflect your lifestyle and priorities based on what you choose to spend money on.

Managing expenses wisely helps you save money for future goals.