- Definition
Expenses are simply the things you have to pay for regularly, like groceries, rent, or your electricity bill.
If a teen earns $100 from a part-time job, their expenses might include buying lunch, a new shirt, and saving for concert tickets.
How to teach this in 30 seconds
Try this analogy: Expenses are the things you spend money on, from a snack after school to a bus pass or a phone plan.
Ask your child: If you had $50 for the week, what would your expenses be?
Common mix-up: Kids might think expenses are only for big, fun purchases. Expenses actually cover all spending, from necessary things like a bus pass to wants like a new video game.
Examples
- A family's monthly expenses often include rent, groceries, and electricity bills.
- The cost of a monthly phone plan is a recurring expense.
expenses is a term used in Ontario’s Kindergarten to Grade 8 curriculum.
Where this shows up
The descriptions on this page are SmartStudy’s own original, plain-language writing — not the Ministry’s wording. They are aligned to the Ontario Curriculum, © King’s Printer for Ontario. For the Ministry’s official wording, see the source link below. SmartStudy is an independent service and is not affiliated with, endorsed by, or sponsored by the Government of Ontario or the Ministry of Education. Ontario Curriculum and Resources ↗
