Expenses

Expenses are the costs incurred by an individual or business to operate or maintain their activities. These include payments for goods, services, and resources needed to run daily operations, such as rent, salaries, utilities, supplies, and travel. Expenses reduce the amount of money available and are recorded in financial statements to show how much has been spent over a period. Managing expenses effectively helps individuals and businesses maintain financial health, make informed decisions, and track profitability or personal budgeting.