What is a Budget Planner?
A budget planner is a tool that makes it possible to document the details of income and expenses for a given budget period. Both homes and businesses make use of a budget planner in order to more effectively manage available resources. In times past, the budget planner was usually in the form of forms and instruction kits that would help develop a budget for the home, a special project, a department or for an entire company. Today, there is a wide range of budget planner software packages available. When used to create a personal budget, a budget planner will account for all sources of revenue that some into the home. This includes salary or wages, tips, interest income, dividends and every other possible avenue of income. At the same time, the budget planner allows for the creation of categories and line items that related to every type of expenditure relevant to the household. Entering the data and organizing both income and expenses makes it much easier to manage money and hopefully
A budget planner is an article that is used to work out how much that you spend and how much you earn. This is sometimes called income and expenditure or income and outgoings. A budger planner helps someone to budget so that they know how much they can afford to spend. Every type of possible expenditure that the person regularly makes each month is included in the budget and this is compared with the amount that they earn. If the expenditure is more than the income, the person needs to make a change to their expenditure. A budget planner is a way of managing your money and is highly effective but only as long as you stick to it. Often, when one applies for an overdraft or a bank loan, one is required to fill out a basic budget planner so that the underwriters of the bank can see whether you can actually afford to repay the loan/overdraft out of your disposable income. A budget lets you know how much you have to spend at the end of each month’s expenditure, it prevents overspend (if use
A budget planner is designed to give you a better idea of your income and expenditure and therefore help you to see if you have a shortfall or surplus. When you have an idea of your typical costs, you can begin to work out how you are going to pay for your essentials such as your rent, food and course costs. Once you have done this, you will be able to see how much you have left to spend on non-essential items. It is important that you are honest and realistic about your costs and spending patterns and you do not underestimate them. If you are not sure what you are spending, it may be helpful for you to use the Expenditure Tracker for a week or two to see where your money is going. Although individuals’ priorities may vary, it is essential that you have enough money for accommodation, food, electricity and water. As a student, it is also important that you have enough money to cover your course costs. Once you have completed your budget planner and know how much money you have availabl
