What is the average person's biggest expense?

The average American household spends $5,102 every month. Housing is

the largest single category, accounting for 33% of monthly expenses. Transportation
was the second-most expensive category at 16%.21 Jan 2020

What is the biggest household expense?

This map shows which U.S. states spend the most (and least) on household
expenses
 Mortgage.
 Rent.
 Auto loans.
 Utilities (electric, gas, water and sewer, waste and recycling)
 Auto insurance.
 Cable, internet and phone.
 Health insurance (the portion consumers typically pay)
 Mobile phone.

Is salary an expense?
Wage expense is a variable-rate cost, which depends on the type of wage (e.g., a
time wage, piece wage, or contract wage). Salary expense is a fixed-rate cost and
depends on each employee's salary contract terms.

What expense is rent?

Rent expense is the cost a business pays to occupy a property for an office, retail
space, storage space, or factory. For a retail business, rent expense can be one of its
biggest operating expenses along with employee wages and marketing costs.

How do you record rent expense?

The initial journal entry for prepaid rent is a debit to prepaid rent and a credit to cash.
These are both asset accounts and do not increase or decrease a company's balance
sheet. Recall that prepaid expenses are considered an asset because they provide
future economic benefits to the company.