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The Only Budgeting Method You Need To Worry About!

DRESS You don't want to look like a window draped with curtains in your wedding day, nor for your bridesmaids to be the called walking throw pillows. Apportion the twenty-five percent of your wedding budget to dress. Dress tells whether or not you have taste. PHOTOGRAPHY Yes. It's not wedding invitation, it's not entertainment, it's not souvenirs. Family Budgeting For A Happy Home Since financial matters are one of the leading causes of marital problems and even divorce, getting a hold on your spending, implementing a budget, and saving for the future can also have positive effects on your relationship with your spouse or partner. When it comes to stress, there's nothing quite like finances to get the nerves jangling between husband and wife. Let your children do things themselves. Let them decide on what to do with their money. With your advice, you can teach them but the decision on budgeting money is theirs. If their decision on spending their money is wrong, they will learn from it. Teach them about the difference of wants and needs. This is very important in budgeting money. It is not as difficult as simply budgeting because you don t have to worry about whether other people would find your way of living livable or not. The first thing that you budget for yourself is, of course, food. Without food, you would not acquire the energy that you need to do the things you do daily. You can simply begin to put some of your savings toward the goals you really want to achieve some time in the future. Such plans may include a family vacation to Disney World or the construction of a new deck for the house. Once you figure out where all your money is going, you can make sure that you are not wasting. The Australian National Audit Office has identified the advantages of activity based budgeting: The Advantages - Output costs are supported by a schedule of costed activities - Opportunities to examine work processes - Identifies non value-adding activities that can be eliminated - Basis of a performance measurement system and direct link between strategic goals and operational realities - Enables cost profiles to be managed - Accurate costing data for operational management - Costs are transparent, understandable and actionable Disadvantages - Activity definition may become too detailed and the model may become too complex and difficult to maintain - Underestimation of the task of collecting activity driver data - Implementation may be considered a financial management fad and there is insufficient commitment from operational managers Activity Based Budgeting Disadvantages - Usually requires buying Activity Based Budgeting software - Requires training of all managers including budgeting department - Requires people to really understand what drives their budget - Eliminates excuse that activity volume changed because it makes visible volume changes - Requires everyone to collect or estimate activity volume By understanding how resources are transformed into products or services, and byfocusing on the cost of activities, activity based budgeting helps an organisation to obtain a greaterunderstanding of how costs behave in their organization and which activities create significant amounts of cost. 

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