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How To Manage Your Money (50/30/20 Rule)

To this end, a company must be able to prepare weekly, monthly, quarterly and yearly figures in keeping an eye on future cash flow requirements as well as making sure that expectations will be met. Without a budgeting and forecasting system that can quickly give the reflection of the expenditures of a changing business condition, it is impossible to determine the impact of such events on the bottom line and quarterly results. Indoor weddings must have at least a spot where guests and the couples could be photographed. Don't waste your wedding budget with reception areas that only offers dining area; choose those that offers their lobby or some parts of the establishment that have an elegant and stylish backdrop. DRESS You don't want to look like a window draped with curtains in your wedding day, nor for your bridesmaids to be the called walking throw pillows. You have to make us of candles, instead of buying high-powered batteries for lamps, to have light in your house, but you must be careful not to burn your house down. The light isn t much but it is enough for you to see your surroundings. You get to be satisfied with the dim light it produces. To get to the point, you learn to be satisfied with little things. After some period of time, participants become more comfortable with the process and work hard to improve the benefits of having one. There are different stages of the budgeting process: - plan - execute - review - report the ogranization's financing, investing and operating activities The planning stage Budgeting pertains especially to the planning stage. Whether you use sophisticated personal finance software or a couple of pieces of paper and a pencil, the important thing is that you get on the road to financial freedom by starting a budget today. Whatever budgeting tool you choose for your financial planning, the most important thing is that you are planning for your financial future. Past expenditures may serve as guide to but not to justify for future outlays. Traditional budgeting versus zero base budgeting This is actually a new technique of planning and decision-making. It ultimately reverses the working process of traditional budgeting. In making a zero base budget, you do not need to refer to the previous level of expenditure as basis of a new one. 

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