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Sticking to a budget

Once a budget is set up, it is not always that easy to stick to it. But that doesn't mean you have to give up because you've failed once or twice.

  • Remember the big picture. A budget keeps you out of overwhelming debt and help you build to financial freedom.
  • Make it more difficult to make impulse purchases. Remove yourself off retailer email lists. Ask yourself "Is this purchase necessary?"
  • Find some support, such as an online forum, a monthly meeting, or even some friends that are trying to keep a budget.
  • Handle transactions in old-fashioned ways so you can see how much you're spending. For example, writing out cheques or paying cash.
  • Reward yourself for every month you've been faithful to your budget.
  • Schedule a periodic budget evaluation.
  • Educate yourself about finances, money management, and how you can best invest in yourself.

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Corporate budgets

Budgets are necessary for running any business efficiently and effectively.

  • Budget Development Process. Assumptions related to projected sales, trends, cost trends, and the overall economic outlook is established for the upcoming period. The budget is then published ...

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Understanding budgeting

A budget shows the trade-off made when one item is exchanged for another. The result is:

  • A surplus budget, where profits are expected.
  • A balanced budget, where revenues and expenses are expected to be equal.
  • A deficit budget...

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Building a budget

  • The traditional budget starts with tracking expenses, getting rid of debt, and then building an emergency fund.
  • But you can speed up the process by building a partial emergency fund. It will act as a buffer to replace the use of a credit card for e...

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Definition of a budget

Definition of a budget

A budget is an estimation of income and expenses over a set time. It is usually drawn up and re-evaluated periodically.

Budgets can be made for a person, a group, a business, a government, or anything else that makes and spends money.

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Ways to budget when you're broke

  • Avoid immediate disaster. Request bill extensions or payments plans from creditors.
  • Prioritize bills. See which bills must be paid first and set up a payment schedule based on your paydays.
  • Ignore the 10% savings rule. It...

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Budgeting myths

  • Myth - I don't need to budget: A budget focus on identifying all the expenses that are likely to occur during the month, quarter, and year. A budget can identify costs that could be reduced or cut.
  • Myth - I'm not good at math: Budgeting software on...

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"Making money is art and working is art and good business is the best art." ~ Andy Warhol

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