Braving Budgets

A good and practical budget worksheet starts with an honest and open assessment of the monthly expenses of the business. This can only be done with accurate and precise information of all regularly occurring expenses, including any money that is spent of seemingly insignificant things.

On the budget sheet indicate in the relevant categories all the required information needed and for those categories that do not apply to the particular business practices simply ignore.

If there are categories that exists within the business but are not categorized in the budget worksheet, simply add them on at the bottom of the sheet where there is always adequate space provided for such additions.

For property tax, auto insurance and any other expenses that don’t normally fall into the monthly billing category take the total cost of it per year and divide it by twelve and then add it into the budget worksheet projections.

In the preliminary stage calculate only minimum payments required to satisfy the debts incurred as this can eventually be built upon as the surplus amount becomes healthier.

For expenses such as entertainment, groceries and eating out, use a separate spread sheet to work this out based on any previous information which should have some form of consistency.

Once this has been done the overall building budget worksheet should be fairly complete thus creating the platform to determine if the current scenario is compatible with the income shown.

At this point the individual would then be able to make decision in a more informed fashion based on all the relevant data presented in the budget work sheet.

Using other examples to help the individual throughout the exercise would be advised as this can assist in giving the individual an idea of where and how to make adjustment in order to still be able to enjoy peace of mind.

Tags:

Budgeting
Making Budgets
Controlling expenses
Expense Management
Managing Finances
Finance Management
Budget Management
Family Finances
Spending Money Wisely
Wise Financing
Wise Budgeting
Making Budgets
Control Expenses
Handling Finances
Planning Finances
Saving Money Tips
Managing Cash Flow
Create Budgets