Budget function as Personal Financial Controller

[Suba]

That is one of the functions of the budget as a financial controller, both for company and personal finance, especially for controlling our daily costs or expenses, so the budget that you have created must be obeyed and implemented.

 

[Bisolami]

A budget is indeed a crucial tool for helping an individual to control her finances.
Whether it is formally written or is informal, a budget enables a person to ensure that she addresses all priority expenditures.

Every business has a budget and it is not as if they do not exceed the budget but even if they exceed it, it should not be too much. A budget is just like a prediction

 

[Heatman]

Creating a budget and following it is a very important virtue needed to create success.

There is no way you can successfully run a business without having a good budget the business is going to operate with because that is the only way you can be able to stay in profit-making margins.

 

[astutimeliana723]

Even though the budget only contains numbers or nominal amounts of money. But the budget has a function as a means of controlling your finances. You can compare your budget with your financial plans or goals with real income and expenses. Is it higher or lower.

One of my workplaces used to allow employees who wanted to participate in investing in the company, but I didn't join them. Because I was a newcomer there, who didn't last long to work there, because of the toxic work environment.

 

[aovurevu]

A budget is indeed a crucial tool for helping an individual to control her finances.
Whether it is formally written or is informal, a budget enables a person to ensure that she addresses all priority expenditures.

You are very right, budget is needed in businesses and organisations.Budgeting can help you in setting long and short term financial goals and help you keep track of your finances .budget is not limited to finances alone but can also be used during production and helps to maximize production.

 

[Suba]

The budget does not only address expenditure issues but also sales and cash budgets. In a production company, budgets can also be made more specific, for example raw material budgets, factory overhead budgets, etc.

 

[Springtime]

Budgeting is part of financial mangement. Every business should prepare a budget and stick to it. This will prevent overspending and helps to keep track of your cash flow situation.

 

[Heatman]

Budgeting is part of financial mangement. Every business should prepare a budget and stick to it. This will prevent overspending and helps to keep track of your cash flow situation.

If you don't make the budget provision for your business on a yearly basis, it is always going to be very difficult for you to get everything to work smoothly without facing serious challenges.

 

[eldavis]

Despite the fact that having a budget helps control how you spend, it would be of no use if you do not have some level of self control. To be able to have an effective results you need self control.

 

[Authenticity101]

It is very important for individuals to have a personal budget. You will avoid spending more than your income allows you. It is also important to include investment money in your budget. Planning for investment is better than investing randomly, or worse, investing nothing at all.