Preview

Budget Thesis Statement

Powerful Essays
Open Document
Open Document
1131 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Budget Thesis Statement
The cause and effect of not keeping a personal budget
Thesis Statement:
Having a personal budget is a crucial factor which is effective in avoiding personal financial difficulties. It assists in tracking the resources and understanding the level of financial stability one has. It admittedly gives out a road map for financial stability for the people who are unaware of the finances, and are prone to spending a lot of money.
Introduction:
Money is an indispensable commodity for survival. Once obtained it will have to be used wisely personal budget is a finance strategy that distributes future individual income closer to expenses, savings, and debt compensation. Without a budget you will spend all your money on useless items you are not able to afford. The outcomes of not keeping a budget can hold you from conducting your future objectives
In present situation money may be very predominant in our lives. Realizing tips on how to manipulate our cash can save us out from debt someday. When becoming unbiased, for illustration college can
…show more content…
One is the global melancholy of the 1930s which had left a lot of people in a financially unstable condition while the opposite is the present recession. The present recession located a number of men and women jobless and in a monetary obstacle. The contributing causes for this trouble had been the truth that people didn't hold a personal budget. When one does not preserve a private finance, one will see that their financial savings and funding strategy is nil. That is most often what happened for the duration of the recession interval. Bad credits and no better ample economic planning led to the essential downfall of the total economic system and caused instability. You possibly can say that the outcome of the recession was the financial instability but the wrong way of watching at it is that by not maintaining a personal finances resulted in an important downfall of the economic system which further led to recession and job

You May Also Find These Documents Helpful

  • Better Essays

    Budgeting is important especially for the small or medium size organisation which could not afford to waste any money on any investments that are not worth the price. Furthermore, a structured budget must be able to provide information of where the cash will be spent on and how the organisation gathered the sufficient amount of capital for future investment. It is important to keep track on the organisation’s cash flow as it provides important information on how much money available within the organisation. Insufficient cash flow within the organisation may lead to financial distress or worst, bankruptcy. However, too much cash flow within the company is not good either as the money should be used to invest into profitable projects rather than keeping within the company. Budgeting helps the organisation to prepare sufficient amount of cash flow within the company to help dealing with day-to-day expenses, at the same time, fully utilised the excess capital in profitable…

    • 1142 Words
    • 5 Pages
    Better Essays
  • Better Essays

    Jet2 Task 2 Essay Example

    • 1914 Words
    • 8 Pages

    A budget, as defined by Hilton (2009 pg 348), is a detailed plan, expressed in quantitative terms that specifies how resources will be acquired and used during a specific period of time. A budget is a financial document utilized to project future income and expenses. A budget is based on how much you make in income and what your monthly expenses are. Budgets evaluate performances while the plan is what is going to happen or refine what you want to accomplish by thinking ahead. The purpose of having a budget is it improves efficiency, assigns responsibility, provides direction, and helps businesses plans and control finances. Managers use the budget as a benchmark against which to compare the results to of actual operations.…

    • 1914 Words
    • 8 Pages
    Better Essays
  • Powerful Essays

    regardless of the actual amount of care used. The amount of the payment is based on the value…

    • 2261 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Unit 2 D3

    • 1009 Words
    • 3 Pages

    A budget is an documented summary of likely income and expenses for a given period. It is important because it helps a business you determine whether they have the money to spend on certain things or not, and if they need to spend more in certain areas. It is created using a spreadsheet, and it provides a concrete, organized, and easily understood breakdown of how much inflows and outflows of money that is going through the business. It’s an helpful tool to help you prioritize your spending and manage your money.…

    • 1009 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Task Supply Task 1

    • 3575 Words
    • 15 Pages

    A budget is a financial plan which is expressed in real numbers, typically in monetary units, which set the expectations for the expenses the company will incur to reach its goals, and management objectives. A good budget uses forecasts to determine what amounts should be used to reach desired efficiency and profitability. Budgets can be used to determine whether a not a process is working effectively, whether or not changes in operations need to be made in order to reach goals, and can help solve problems before they occur and help make changes when necessary.…

    • 3575 Words
    • 15 Pages
    Good Essays
  • Good Essays

    Personal budgets have great aspects. Budgeting allows you to become responsible to prioritize your spending, to make financial goals, managing your debt, save and assess your spending. Many people do not keep personal budget for one reason or another. Without a personal budget you will find yourself with debt not able to pay your bill as usual. The lack of knowledge is not taught on how to budget finances, which can lead into a vicious cycle. So if not prepared for an unexpected emergency could destroy individual or family that is impacted as well as the economy. The negative effects that it could have on one…

    • 621 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    creating budgets can help you save your money. Another thing it can help with is setting goals. this goes along with saving and creating budgets so you can afford, for example a car, or a house in the future.…

    • 1088 Words
    • 4 Pages
    Satisfactory Essays
  • Good Essays

    In my budget project, I have put the life of a professional singer together. I chose to do this because the idea of being professional is a way people see you as a person, and also how they will act and treat you. Another reason I chose to be a professional singer is to make a lot of money, and get the car and house I have put in my budget project. A good reason that this life was put together is that I am completely comfortable with it. I am comfortable with it because, to be a good or even great singer means the more money and tours to take.…

    • 383 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

     Why Budget. Do you have a budget? Why or why not? What do you think are the major reasons why people do not make formal budgets?…

    • 525 Words
    • 2 Pages
    Powerful Essays
  • Good Essays

    In this task I will be explaining what a budget is, why it used by companies and I will have to show how it helps a company in controlling its finance.…

    • 1637 Words
    • 7 Pages
    Good Essays
  • Better Essays

    In today’s capitalist society, no one is spared from the constraints of fulfilling one’s financial needs and obligations. Whatever your profession may be, whether you’re a doctor, lawyer, businessman, industry professional, artist, politician, whatever you are, there will always be some financial issue that needs to be addressed. Wouldn’t it be great to be able to get rid of these issues and move on to what you really want to do in life? Unfortunately, we cannot get rid of these financial obligations, however, there are ways to conquer them, all of which can be learned in the often neglected but mind bogglingly essential realm of personal finance.…

    • 2114 Words
    • 9 Pages
    Better Essays
  • Good Essays

    The change with the aging population has never been so high as before. As the demographics of the aging populations continues to grow society will be seing thesome growing pains. The cause for the aging population is due to the amount of baby boomer in this generation . The term baby boomers are people who were born from 1947 to 1964. These people were born doing the post-world war II baby boom. The impact of the baby boomers will be mostly felt in healthcare. With the aging population most of the population most of them will depend on medicare to cover health concerns , which will imact everyone in the united state. The demographic of the aging pouplation will also create a demand for more health care professionals. They will more…

    • 1226 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    Creating a Budget

    • 281 Words
    • 1 Page

    Creating a budget is also known as creating a spending plan. It may not be the most entertaining use of your time, but from personal experience it is a must do for anyone who has an income. Have you ever cashed your paycheck and a few weeks later wondering where all the money went? Budgeting and tracking all of your expenditures will graphically illustrate exactly what you are spending your wealth on.…

    • 281 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Putting together a cash budget is crucial to monitor and control spending. This helps reduce impulsive…

    • 571 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Personal Finance

    • 3713 Words
    • 15 Pages

    Many people assume that handling personal finances is straightforward and can be done with little to no preparation. This paper delves into the many different aspects of personal finance. It discusses the tools that we are learning in class and explains how these tools that can be used to save for retirement. It offers tips to improve your financial standing both now and in the future. And finally, it compares these tips with advice offered by an expert, Suze Orman. Everyone needs to learn how to properly prepare their finances to reach their goals. While doing so can be easy and rewarding, neglecting to do so can have a substantial negative impact on your future well-being.…

    • 3713 Words
    • 15 Pages
    Powerful Essays