Bryan is mapping out essential and non-essential expenses. He owes a car payment of $235 per month for 45 more months. Bryan is thinking about selling the car because he knows he can walk to work, which is only 3 blocks from his home. Which of the following is the correct category for this expense?

The situaton represented above is a direct characteristic of essential (fixed) expense. As you can see from the task, he must pay particular amount of money for regulated and fixed period of time. According to the definition of the term I have chosen, fixed expense - is paid on a regular basis (montlhy, weekly, per year, etc.) that nicely coincides with task. This category makes life much easier unlike variable expenses.