Speech+Mobility/Expense taxonomy

The goal of this page is a categorization of income and expenditures which helps to illuminate different ways those expenses or income can be represented, and different ways the expenses might be reduced or income increased.

Taxonomy of Expenditures

1. Elective (things that you want to buy but could do without)

• • Going to the movies
  • new clothes
  • restaurants

1. Semi-elective (things you can't live without, but with highly variable cost)

• • Food
  • Transportation
    • Car
    • public transit
    • bike, walk

1. "Good Idea" expenses (things that save you money later if you buy now)

• • Maintenance, insurance
  • Regular expenses that are on sale
  • Paying back credit card debt

1. Reimbursable expenses (not your money)

• • Work purchase orders
  • Splitting a bill with friends who will get you back

1. Necessary expenses (things that hurt you bad if you don't pay)

• • Rent/mortgages/loan payments
  • Utility bills
  • Taxes

1. Unnecessary, unwanted expenses (things you do pay, but shouldn't)

• • Subscriptions you forgot to cancel
  • Fees for services you don't use
  • Taxes for which you are exempt
  • Bank fees for basic services like checking and credit cards when you could get free accounts elsewhere

Taxonomy of Income

1. Salary income (regular payment schedule -- once/month or once every 2 weeks)
2. Freelance income, tips (no regular payment schedule, or irregular amounts)
3. Reimbursements (previous expenditures getting erased)
4. Interest/investment income from savings (gets bigger faster when you spend less)
5. Gifts (infrequent, generally smaller amounts)