Definitions
- Referring to the total amount of money spent or paid out by a person, company, or organization. - Talking about the cost of goods or services that have been purchased or acquired. - Describing the overall expenditure of funds for a particular period or project.
- Referring to the cost of goods or services that have been purchased or acquired. - Talking about the amount of money spent on a particular item or activity. - Describing the overall expenditure of funds for a particular period or project.
List of Similarities
- 1Both refer to the cost of goods or services.
- 2Both describe the amount of money spent on something.
- 3Both can be used to describe overall expenditure.
- 4Both are financial terms.
- 5Both can be used in personal or business contexts.
What is the difference?
- 1Usage: Outgo is less common than expense and is typically used in formal or business contexts. Expense is more versatile and can be used in both formal and informal contexts.
- 2Scope: Outgo refers to the total amount of money spent, while expense can refer to the cost of a single item or activity.
- 3Connotation: Outgo can imply a larger scale of spending, while expense can be associated with smaller or more specific purchases.
- 4Usage as a verb: Outgo is more commonly used as a noun, while expense can be used as both a noun and a verb.
Remember this!
Outgo and expense are synonyms that both refer to the cost of goods or services and the amount of money spent. However, outgo is less common and typically used in formal or business contexts to describe the total amount of money spent, while expense is more versatile and can be used in both formal and informal contexts to describe the cost of a single item or activity.
