A "fee" is a specific amount of money that is charged for a service or privilege. Fees can vary widely depending on the type of service provided, such as legal fees for hiring a lawyer or tuition fees for attending a school. They are typically paid upfront or at regular intervals. Fees are often used in various industries, including banking, healthcare, and entertainment. For example, a membership fee may be required to join a gym, while a late fee can be charged if a payment is not made on time. Understanding fees is important for budgeting and financial planning.