During college, you may want to know what constitutes “miscellaneous” personal expenses. This type of expense can vary widely in terms of cost, depending on your lifestyle and the number of students. Miscellaneous expenses can also be claimed as business expenses. Here’s an example of miscellaneous personal expenses:

Millennials typically spend close to $200 a day on entertainment. This is higher than the average American who spends only $160 a day on entertainment. The good news is that these expenses can be deducted. But there are some limitations. If you’re a home office owner, the interest you pay on your mortgage, bank charges, and management fees are all deductible. Small business owners can keep track of miscellaneous personal expenses with a spreadsheet such as QuickBooks.

Miscellaneous personal expenses include things that are not specifically included in other categories. For example, gym memberships, pet food, and other necessities are not accounted for in other categories. If you’re an athlete, you’ll probably need a gym membership, but don’t budget for it. Other deductible expenses for a company include advertising costs, franchising fees, and internet-related costs. However, some expenses that are not included in the category of miscellaneous personal expenses are lobbying, demolition, and anticipated liabilities.