Which of the following describes fixed expenses?

Fixed expenses are characterized by their consistency, meaning they remain the same each month, regardless of fluctuations in income or spending habits. These types of expenses include items such as rent or mortgage payments, insurance premiums, and certain loan payments, which are contractual obligations that do not vary based on your financial situation from month to month. Understanding fixed expenses is crucial for budgeting since they represent a stable portion of your financial commitments, making it easier to plan and allocate remaining funds for variable or discretionary spending.