Financial budget maintain company's assets, cash flow, income and expenses.Financial budget will give idea about financial health. Time budget is the duration of activities engaged by individual over a particular period. Budgeting is the most effective way to control cash flow. Through financial and time budgeting can be estimate cost, setting of agreed budget and control of cost against the budget.
To create budget first understand the goals. Then estimate expense. Monthly budget include 50% of after tax income.It includes housing, groceries, basic utilities, transportation etc. Budget will create at the end of every month.By using this information next month budget can be create.
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