MONEY MINDED
FINANCIL MANAGEMENT - BUDGET:
Introduction:
Welcome friends!. In this post you are learn about budget, monthly budget, budget calculation, importance of budget, budgeting tips, budget plans. I ensure that you are going get a great knowledge about budget. Read properly to improve your financial status.
Monthly Budget Definition:
* " MONTHLY BUDGET " is defined as a financial initiative for future financial improvements. Budget is the way of comparing our income and expenses.
* Budget is used to know our exact income and expenses sources. In houses, the budget is done monthly once, which is known as "MONTHLY BUDGET".
* Monthly Budget should be done at the early day of the month.
* Budget is used to know our exact income and expenses sources. In houses, the budget is done monthly once, which is known as "MONTHLY BUDGET".
* Monthly Budget should be done at the early day of the month.
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| MONTHLY BUDGET |
Budget Calculation:
* If your Income is greater than your expense, then you will have money in your hand, it is a profitable budget .
* If your expense is greater than your income, then you should reduce your unnecessary expenses, it is a unprofitable budget.
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| BUDGET CALCULATION |
Importance of BUDGET ?
" Budget is the base for your financial development "
* Budget plays a important role in financial development. Future financial steps are taken only through "BUDGET".
* Budget is used in all corporate companies, financial companies, banks and also there is a budget in country.
* Budget is used in all corporate companies, financial companies, banks and also there is a budget in country.
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| IMPORTANCE OF BUDGET |
Country annual budget?
* Budget is also used to improve country's financial status which is known as "COUNTRY ANNUAL BUDGET" .
* Country Annual Budget is a document, which is prepared by the financial minister and financial secretaries.
* Country's Budget document is prepared based on the income and expense of the country. Country's Budget document has a data of collected taxes (income) and the spending of the upcoming year (expense).
* Country Annual Budget is a document, which is prepared by the financial minister and financial secretaries.
* Country's Budget document is prepared based on the income and expense of the country. Country's Budget document has a data of collected taxes (income) and the spending of the upcoming year (expense).
Budgeting Tips:
If your expense is greater than your income, then it is an unprofitable budget. The Budgeting tips for a profitable budget are,
* Reduce your expense in spending for tourism.
* Always use public transport.
* Don't go for cinema theatres, hotels, play grounds( paid tickets).
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| BUDGETING TIPS |
Budget plans :
The Two types of budget plans can be explained by two examples.
CHOOSE YOUR BUDGET PLAN (ANT/GRASSHOPPER)
* The Budget plan of Ants is to work hark for food and also to save the food for unconditional seasons like winter and in rainy days As Ants saved the food correctly they don't have to worry for food. This is an example of Profitable Business Plan.
* The Budget plan of Grasshoppers is to eat the leaves whenever they need. They don't have the habit of saving the food for future purposes. This is the reason why grasshoppers suffer for food many times. This is an example of Unprofitable budget plan.
Conclusion:
* Now you have learned the complete knowledge in budgeting. I hope you got an idea in budgeting your monthly income.Read the "Financial Management" series to improve your financial status.
* Read all our "MONEY MINDED" posts for your financial and business development. Don't forget to FOLLOW and SHARE our "MONEY MINDED".
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