All About Budgeting
Name the first thing to keep track of in a budget.
What are expenses?
You need to keep track of these when budgeting.
What are expenses and income?
You budget because you want to save this?
What is to save your money?
Budgeting gives you____over your money.
What is control over your money?
When budgeting, you should focus on this second even though it's really important.
What is focus on income?
This particular bill changes every month.
What is a variable expense?
When you budget
What is an estimate of income and expenses?
You need to differentiate between these when you are budgeting.
What is wants vs needs?
You need to budget because you want to have enough money for this. (long time)
What is ensure you have enough money for life?
Budgeting can keep you from going overboard with your money.
What is overspending?
When budgeting, you realize your expenses equals your income(s).
What is a balanced budget?
Financial statements and market research determines this.
What my business can earn?
When you choose something to save for this is called?
What is a goal?
When creating a budget you need to be ____ when setting a savings goal.
What is being realistic?
You need to budget because sometimes you need to find cash quickly.
What is budgeting for emergency expenses?
Budgeting makes you aware with what is going on with _____.
What is going on with your money?
I am running a budget with more expenses than income but that's ok.
What is deficit budgeting?
Money used to pay shareholders dividends.
What is non-operating expense?
You need to make sure that you do this monthly.
What is balancing your budget?
You should always do this when you have been budgeting for a while.
What is revisit and recalculate your budget?
A big reason to budget is so that you don't loose this.
What is losing money?
Budgeting can help reveal _____ this.
What is spending habits?
Once you have your budget in place and have more money coming in than going out you can start investing to create more.
What is income?
Money coming directly from the core operations of the business.
What is operating income?
You need to do this with savings so that when you really need it, it's there.
What is not touching your savings unless it's an emergency?
You can create more space between income and expenses by doing this.
What is downsizing and substituting?
You need to budget to stay out of this.
What is debt?
A benefit of budgeting is so you can always have money for_______. (unexpected)
What is emergencies?
The income must equal.
What is Expenses?
The business could suffered this because the estimated expenses exceeded the incomes.
What is a financial loss?