‘Expenses’ is one of the important topics on which students can be asked to write a paragraph in exams in school. Expenses are the money we spend on things we need or want. Learning how to manage them is important. Please check the various versions (in 100 words, 150 words, 200 words, and 300 words) provided below for the paragraph.
Paragraph on ‘Expenses’ in 100 Words
Expenses are the money we spend on things we need or want. We use money to buy food, clothes, and toys, and pay for school. Some expenses are necessary, like buying groceries or paying for a house. Others are for fun, like getting ice cream or watching a movie. Parents plan expenses to make sure they have enough money for everything. Saving money is also important, so we can buy bigger things later. If we spend too much, we may not have enough for important things. Learning to spend wisely helps us manage money better as we grow up.
Paragraph on ‘Expenses’ in 150 Words
Expenses are the money we spend on different things every day. Some expenses are necessary, like buying food, clothes, or paying for a house. These are called needs. Other expenses are for fun, like buying toys, going to the park, or eating at a restaurant. These are called wants. It is important to spend money wisely so we do not run out of it. Parents and adults make budgets to plan their expenses. They save some money for emergencies or big purchases in the future. Learning about expenses helps us understand how to use money wisely. If we buy too many unnecessary things, we might not have enough for important needs. So, making smart choices is important. Kids can also learn to manage expenses by saving pocket money.
Paragraph on ‘Expenses’ in 200 Words
Expenses are the money we spend on various things in our daily lives. We use money to buy food, clothes, school supplies, and pay for our home. These are important expenses, called “needs.” We also spend money on fun things like toys, games, and trips, called “wants.” It is important to balance both so we do not run out of money.
Parents plan their expenses carefully. They make a budget to decide how much money to spend and how much to save. Saving money helps in emergencies or for big future purchases, such as a car or a house.
Kids can also learn about expenses by managing pocket money. If we spend all our money at once, we may not have enough for important things later. That is why it is good to think before buying. Understanding expenses helps us become smart with money when we grow up.
Paragraph on ‘Expenses’ in 300 Words
Expenses are the money we spend on various things every day. We need money to buy food, clothes, school supplies, and a home. These are necessary expenses, also called “needs.” We also spend money on fun things like toys, movies, and snacks, which are called “wants.” While spending on wants is okay, we must ensure we do not waste money on things we do not need.
Parents and adults plan their expenses carefully. They make a budget, which is a plan for spending money wisely. Some expenses are monthly, like rent, electricity bills, and groceries. Others happen less often, like buying a new phone or going on vacation. People also save money for emergencies, like medical bills, or the future, like buying a house or a car.
Kids can also learn about expenses by handling pocket money. If we get an allowance, we can decide how much to spend and save. If we spend too quickly, we may not have enough left for something important. Learning about expenses teaches us to be responsible with money. When we grow up, we will be able to manage our own money wisely.
MCQs on ‘Expenses’
1. What are expenses?
a) The money we save
b) The money we spend
c) Money we give away
d) Money we borrow
a) Buying a toy
a) Wants
a) Needs
a) To waste money
a) A shopping list
a) To buy bigger things later,
a) We will have enough for everything.
a) By spending all their pocket money quickly
a) Spend all your money quickly
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A budget is a plan for spending money wisely. It helps people save, control expenses, and avoid debt. Governments and families use budgets for financial stability.
Financial literacy means understanding money management. It includes saving, budgeting, investing, and avoiding debt. Knowing finance helps people make smart decisions and secure their future.
Money is used to buy goods and services. It comes in coin, paper, or digital form. People earn, save, and spend money for daily needs.
Economics studies how goods and services are made, shared, and used. It explains supply, demand, trade, and money flow in countries and businesses.
Black money is earned illegally or hidden from taxes. It harms a country’s economy. Governments fight black money through strict rules and policies.
2. Which of these is a necessary expense?
b) Watching a movie
c) Buying groceries
d) Eating ice cream
3. What is another name for necessary expenses?
b) Bills
c) Needs
d) Savings
4. What do we call expenses that are for fun?
b) Bills
c) Savings
d) Wants
5. Why do parents plan expenses?
b) To make sure they have enough for everything
c) To stop spending money
d) To buy more toys
6. What is a budget?
b) A plan for spending money wisely
c) A type of savings account
d) A bill
7. Why is saving money important?
b) To waste money,
c) To spend on unnecessary things,
d) To avoid working
8. What happens if we spend too much?
b) We may not have enough for important things.
c) We will get more money automatically.
d) We will never need to save
9. How can kids learn to manage expenses?
b) By saving and spending wisely
c) By never using money
d) By buying everything they want
10. What is the main lesson about expenses?
b) Only buy fun things
c) Balance spending and saving wisely
d) Never spend money
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