Now is† the Time for 2003 Personal and Business Budget and Tax Record Organization
Although the need for a personal and business budget may seem obvious, many individuals and companies overlook this critical planning tool. Therefore, a brief reminder may be in order at we embark upon a new year.
A budget is extremely effective in making sure you have adequate cash flow ó and, thus, in ensure financial success. Thatís why every person and business (from the smallest to the largest) should have a budget.
At this time, individuals and business owners should get together with their accountants and budget (project) income and expenses for the coming year. Amounts can be broken down to cover monthly or even weekly periods, depending on one's needs.
Once the budget has been made up, then monthly actual income amounts can be compared to monthly budgeted amounts. If actual income falls short of budgeted inome, expenses must generally be cut.