Which of the following describes fixed expenses?

Fixed expenses are costs that do not change from month to month, meaning they remain constant. Regular payments such as rent or mortgage, insurance premiums, and certain loan repayments are categorized as fixed expenses because they are set amounts that must be paid on a regular schedule. These expenses typically do not vary based on consumption or lifestyle choices, making them predictable and easier to budget for.

In contrast, the other choices discuss various types of expenses that do not fit the definition of fixed expenses. Some may vary based on individual choices, are incurred infrequently, or fluctuate based on market conditions, which distinguishes them from the stable nature of fixed expenses. This understanding highlights the importance of recognizing fixed expenses in personal budget planning for effective financial management.