What are maintenance costs?

Maintenance costs are the money you spend to keep something working well over time.

Imagine you have a toys box that you use every day. At first, it’s shiny and strong, but after some time, your favorite toy car might start making funny noises or even break. To make it work again, you need to fix it, maybe by gluing the wheels back on or tightening a loose part. That fixing job costs money, and that's what we call maintenance cost.

Think about your bike. When you first get it, it’s brand new and super fun to ride. But after some time, the chain might get rusty, or the tire could start to look flat. To keep riding without any problems, you need to clean the chain, maybe put air back into the tire, these are all maintenance jobs, and each one has a cost.

Just like your bike needs care now and then, things in life also need care so they keep working well for longer. That care costs money, and that’s what we call maintenance costs.