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.

RELATED TERMS
  1. Moving Expenses

    Potentially tax-deductible expenses that are incurred when an ...
  2. Income Tax

    A tax that governments impose on financial income generated by ...
  3. Head Of Household

    A status held by the person in a household who is running the ...
  4. Dependent

    An individual whom a taxpayer can claim for credits and/or exemptions. ...
  5. Tax Liability

    The total amount of tax that an entity is legally obligated to ...
  6. Member Of Household

    A person who is claimed as a dependent when filing year-end tax ...
Related Articles
  1. Savings

    Don't Forget The Kids: Save For Their Education And Retirement

    Retirement and education financing are the two most important planning items for taxpayers.
  2. Taxes

    3 Retirement Plan Moves To Make Before Year-End

    If you don't know what must be done before December 31 you may miss opportunities - or even pay penalties.
  3. Home & Auto

    Measuring The Benefits Of Home Ownership

    Price appreciation is the biggest factor, but it's not the only thing to consider.
  4. Budgeting

    Why Some Kids Never Leave The Nest

    Giving your children a free ride can be costly for both of you.
  5. Budgeting

    6 Months To A Better Budget

    Can you have perfect abs in just six minutes a day? Maybe not, but you can have a rock-solid budget in six months.
  6. Budgeting

    22 Ways To Fight Rising Food Prices

    As food costs rise it can be difficult to stay on budget. Here are some handy tips to spend less at the till.
  7. Entrepreneurship

    Save Money On Summer Bills

    From lawn care to summer fairs, expenses can skyrocket if you're not paying attention.
  8. Budgeting

    Paring Down Moving Costs

    Unexpected costs can add to the stress of relocation. Plan ahead and anticipate what may pop up.
  9. Retirement

    Budgeting Tips: Living in Costa Rica on $1,000 a Month

    Explore the cost of living in Costa Rica, and learn how you could sustain a nice middle-class lifestyle for yourself on about $1,000 a month.
  10. Budgeting

    Cheap Currencies for Travel in 2016

    Discover three destinations with cheap currencies for travel in 2016, including one European country you can visit without paying the standard European price.
RELATED FAQS
  1. How does a cost-of-living adjustment (COLA) affect my salary?

    Some companies build salary adjustments into their compensation structures to offset the effects of inflation on their employees. ... Read Full Answer >>
  2. Is Social Security inflation-protected?

    Social Security benefits are inflation-protected. Social Security was created in 1935, and taxes were collected for the first ... Read Full Answer >>
  3. Why isn't the cost-of-living adjustment mandatory?

    A cost-of-living adjustment, or COLA, is a purchasing power protection mechanism provided to all monthly Social Security ... Read Full Answer >>
  4. Are Social Security benefits adjusted for inflation?

    Social Security benefits are adjusted for inflation. This adjustment is known as the cost of living adjustment (COLA). For ... Read Full Answer >>
  5. Which states are the most expensive for high-income earners?

    The most expensive states for high-income earners are California, Hawaii and New York. The tax rates assessed by these states ... Read Full Answer >>
  6. How can you calculate your cash budget in Excel?

    Calculating a cash budget in Excel is best completed by dividing your budget into inflows and outflows. Excel makes it extremely ... Read Full Answer >>
Hot Definitions
  1. Super Bowl Indicator

    An indicator based on the belief that a Super Bowl win for a team from the old AFL (AFC division) foretells a decline in ...
  2. Flight To Quality

    The action of investors moving their capital away from riskier investments to the safest possible investment vehicles. This ...
  3. Discouraged Worker

    A person who is eligible for employment and is able to work, but is currently unemployed and has not attempted to find employment ...
  4. Ponzimonium

    After Bernard Madoff's $65 billion Ponzi scheme was revealed, many new (smaller-scale) Ponzi schemers became exposed. Ponzimonium ...
  5. Quarterly Earnings Report

    A quarterly filing made by public companies to report their performance. Included in earnings reports are items such as net ...
Trading Center