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    To obtain product support please click on the link below.聽 This will bring you to WorkforceWellbeing.com.聽 Please login and select the chat icon at the bottom right of your screen to let us know the type of support you are in need of.

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    Iota's Impact By The Numbers

    Here’s what being a customer-focused company has allowed us to accomplish.

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    Request a Call

    Thriving Together

    Customer Support Options

    Hello there! It seems like you need some assistance. No worries – we’ve got you covered!

    Check out these amazing customer support option. 馃槈 Pick the one that tickles your fancy, and we鈥檒l be on our way to helping you out in no time!

    Edit Content

    Thriving Together

    Schedule a Product Demo

    Let’s begin below.

    Edit Content
    Edit Content

    Thriving Together

    Send Us A Note

    Hey there! We are totally excited to get a message from you! Don’t be shy, drop us a line below and let’s start a conversation! Can’t wait to hear what you have to say!
    Send Us A Note

      Personal Information


      Edit Content

      Thriving Together

      Product Support

      To obtain product support please click on the link below.聽 This will bring you to WorkforceWellbeing.com.聽 Please login and select the chat icon at the bottom right of your screen to let us know the type of support you are in need of.

      Edit Content

      Thriving Together

      Give Us a Call

      “Hey there! We’re dying to hear from you! Please give us a ring on our support line.聽 Let’s make some magic!

      FAST FACTS

      Iota's Impact By The Numbers

      Here’s what being a customer-focused company has allowed us to accomplish.

      0 yrs

      +

      Years Approving Wellbeing
      0

      +

      Learning Units Delivered
      0 %

      +

      Satisfaction Level

      Types of Expenses

      As you begin efforts to understand where your money is going, it may be helpful to break your spending into different categories.聽 There are two main categories of expenses: essential and non-essential expenses (or discretionary).聽 Essential expenses are those expenses needed for everyday living.聽 Non-essential expenses are the extra things that are not required, but you spend your money on because it probably makes you feel happier.聽As an extra step, essential expenses may be broken down into fixed expenses and variable expenses.

      Essential Expenses鈥擣ixed, Variable, and Periodic聽
      • Fixed Expenses聽–聽Fixed expenses are expenses that remain unchanged each month, such as your rent or mortgage, car payment, car insurance, loan repayments, property taxes, home insurance, and school loans. To determine the monthly amounts, you can look in your checkbook, call your creditors, or simply track the bills as they come in.
      • Variable Expenses聽–聽Variable expenses are expenses whose amounts fluctuate each month depending on household needs or time of the year. Examples include food, clothing, car maintenance, gasoline, food, electricity, phone, etc.
      • Periodic Expenses – Periodic Expenses are expenses that occur less frequently. They might be paid quarterly, semi-annually, or annually.聽 Such expenses might include annual membership or association dues, income taxes etc.
      Non-Essential (Discretionary) Expenses

      Discretionary expenses include items we can live without, even though we might consider them a necessity.聽 This is an expense category where we are likely to waste money that could be spent on something more important. Examples include expensive clothes, fancy shoes, big screen televisions, electronic devices, movie theatre tickets, dining out, gifts, and snacks.

      While purchasing some clothing may be considered an essential expense, it is easy to buy much more than we really need or can afford. The excess would be considered discretionary. Similarly, some of your food bill (like milk or eggs) might be an essential expense, and another portion (like steak or lobster) considered non-essential.

      What are the benefits of categorizing expenses into fixed, variable, and discretionary expenses?

      Tracking your expenses allows you to better plan for your future. Tracking your expenses so you can categorize them will give you insights into where your money is spent.聽 Later, when you want to make changes or adjustments in your spending, you will know which expense categories to modify. You will also be able to set up an estimate of your household budget, based on the expense information you have been tracking. Most likely, you will find that the variable and discretionary expense categories will be the ones that need to be adjusted in order to cut costs, save more money, or balance your budget.

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