A budget outlines a business's financial plans and is a roadmap to success. There are two types of budgets: static and flexible. An effective budget should include realistic goals, regular finance monitoring, targets, and prior year figures as a guide. It should avoid goals that are too loose or tight and conflicting goals between departments. Effective budgeting results in more profits and success for a business.

1. Planning an Effective Budget for your businessBy Tiffany M Pope

2. You may Ask?What is a budget?A budget is a charted course for a business that outlines plans for the businesses finances.

3. In other words…..A Road map to SUCCESS!!!

4. There are two different types of BudgetsSTATIC AND FLEXIBLEHere is an example of how they work:

5. To plan an effective Budget There are a few steps you Must take….

6. The are benefits to setting a budget!

7. What an Effective Budget should include:

8. Do’s AND DONT’S OF BUDGETINGDO’SDO SET REALISTIC GOALS…Goals that are realistic makes employees want t o attain them.

9. REGULARLY MONITOR FINANCE AND PERFORMANCE… Enablesyou to concentrate resources on improving profits and reducing unnecessary costs.