Daily living costs refer to the expenses that individuals incur on a regular basis to maintain their basic needs and lifestyle. These costs typically include essentials such as food, housing, utilities, and transportation. Understanding these expenses is crucial for budgeting and financial planning. In addition to basic necessities, daily living costs can also encompass discretionary spending, such as entertainment and clothing. These costs can vary significantly based on factors like location, lifestyle choices, and personal preferences. Keeping track of daily living costs helps individuals manage their finances effectively and make informed decisions.