Mistakes are far less costly when made on a piece of paper than with actual money. The process and mechanics of business budgeting vary by organization. Generally, budgeting consists of the following three phases. Each stage can provide valuable insights into your business. 1. Research In this phase, you evaluate your revenue position, understand your business' cost structure and research on your competitors' businesses. For entertainment, you can ask friends who can belt out a Mariah Carey to sing for the night; an overly talkative officemate as the host. If you have a friend who works for the circus, don't ask him to bring an elephant for a magic show; a dove and a rabbit will do. Others List(or the remaining twenty percent (20%) of the wedding budgeting list) -Legal Papers -Invitation -Souvenir -Entertainment -Transportation -Flowers You have to make us of candles, instead of buying high-powered batteries for lamps, to have light in your house, but you must be careful not to burn your house down. The light isn t much but it is enough for you to see your surroundings. You get to be satisfied with the dim light it produces. To get to the point, you learn to be satisfied with little things. A small notebook is not large enough to be uncomfortable bringing around in your bag everyday. This notebook can even be carried in your wallet or purse. Start writing down every little detail of expenditure on a daily basis. Do not forget to include the coffee you stop for every morning before getting to work, or that soda you have in the afternoon after getting off from the office. Regular tune ups and oil changes will help prevent costly damages to your car in the future. For children (how and when parents should teach them about budgeting money) Budgeting money should be taught to kids as soon as possible. They do not automatically become financially responsible. You can start discussing on budgeting money on an ongoing basis. Your budget will help you in the development of your personal budgeting process, regardless of how much money you earn. Truth be told, it is not how much money you earn that you should concentrate on when making a budget. Instead, pay more attention to your spending. Do you feel like no matter how much money you earn in a month it does not always seem to be enough?