What is a Budget? Definition or Meaning

Your budget is one of your most important weapons in the steady management of your business. Drawing up a budget lets you view all your regular expenses so that you can make sure you can afford to pay your bills each month. Sticking to your budget makes financial management a LOT easier.

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As the saying goes, “A budget tells us what we can’t afford, but doesn’t stop us from buying it!” Sticking as closely to your budget as possible will prevent financial headaches down the track. Don’t bury your head in the sand when it comes to spending and be sure to revisit and revise your budget regularly.