1-Minute Wednesday: What is a Budget and Why do I need one?

You can think of a budget in one of 2 simple ways. You can think of a budget simply as permission to spend money. Without a budget, you haven’t given yourself, or anyone else permission to spend your money. When you have a budget, you have a spending plan. You plan what you spend, and only spend what you plan. Another way to think about a budget is as a navigation system. If your business is a car and a given income number is the goal, a budget will show you how to get there and will help you avoid road blocks and traffic collisions along the way.

Share Button
Sign Up To Receive More Best Practices

Comments are closed.