Household Expenses

DEFINITION of 'Household Expenses'

A per person breakdown of general living expenses. It includes the amount paid for lodging, food consumed within the home, utilities paid and other expenses. The sum of all the expenses is then divided by the number of family members residing in the house in order to find each member's part of the total expense.

BREAKING DOWN 'Household Expenses'

If you have "head of household" status, you can enjoy a larger standard deduction and lower tax rates.

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