What "fixed expense" means in finance

A fixed expense is a regular and recurring expense that remains constant and does not fluctuate with changes in production or sales volume. These expenses are essential and necessary for the operation of a business or personal budget and include items such as rent or mortgage payments, insurance premiums, salaries, loan repayments, and property taxes. Fixed expenses are typically predictable and can be budgeted for in advance, making them easy to plan for and manage.