What is a characteristic of flexible expenses?

Flexible expenses are defined by their variability in amount from month to month. This characteristic distinguishes them from fixed expenses, which remain consistent regardless of the month. For example, flexible expenses can include items like groceries, entertainment, and dining out, where spending may fluctuate based on personal choices, changes in needs, or seasonal factors. This variability allows individuals to adjust their spending based on their current financial situation or priorities. In contrast, fixed expenses, such as rent or mortgage payments, are predictable and do not change, making the understanding of flexible expenses crucial for effective budgeting and financial planning.