OUT OF POCKET Meaning and
Definition
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Out of pocket is an idiomatic expression used to describe a situation where an individual or organization incurs an expense or cost that is not covered or reimbursed by any other party. It refers to the personal expenditure or loss of money one has to bear on their own, typically without being compensated.
In a personal context, being out of pocket can refer to an individual paying for something themselves rather than using available funds or relying on insurance, assistance, or reimbursement from another source. This can include medical expenses, travel costs, or everyday purchases that are not covered by insurance or an employer's benefits package.
In a business context, out of pocket expenses concern costs incurred by an employee or entrepreneur that are not reimbursable by their employer or a client. This could include travel expenses, office supplies, or other expenditures necessary to perform their job duties.
The term "out of pocket" is often used to emphasize the financial burden or inconvenience of having to cover costs oneself. It signifies that the responsibility for payment lies solely with the individual, and there is no expectation of being reimbursed or compensated by any other entity.
Common Misspellings for OUT OF POCKET
- out-of-pocket
- out of poacket
Idioms with the word OUT OF POCKET
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be out of pocket
The idiom "be out of pocket" has two possible meanings:
1. Being unable to access or reach someone physically or through communication channels. It indicates that a person is currently unavailable, either because they are not present or because they cannot be contacted.
2. To have incurred a financial loss or expense. This meaning suggests that someone has spent money, often unexpectedly or involuntarily, and is now in a situation of temporary financial hardship.
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in/out of pocket
The idiom "in/out of pocket" refers to someone's financial status. "In pocket" means someone has money or is financially secure, while "out of pocket" means someone does not have money or is facing financial difficulties.
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out of pocket
The idiom "out of pocket" refers to when someone is responsible for paying for something themselves rather than having it covered by someone else or by an organization. It can also mean being unavailable or unreachable, especially in terms of communication or responsibility.
