B- Budget

Have a budget. Do your costings and estimates. This will give you an idea of what you will need. Prepare a temporary spreadsheet of forecast expenditures either per week, per month or per year. Hardwares, softwares, registration fees, company fees, tax, websites/domain costs, utility bills, manpower/labour, time, accessories, advertisements, stationeries, etc etc. All these budgeting are dependent on what you are planing to do.

Now match your costings with your current income and expected incomes. Do your calculations to know whether it’s a supplus or deficit. Keep it as a template and keep reviewing as you go along.

You can group your expenses into different categories but I find costs based on duration easier to work with. These are grouped into running costs, one-off costs, short term costs, long term costs, immediate costs, high priority costs, low priority costs,

Remember: cost your plans and plan your costs.

Previous: A- Ask Questions

Next: C- Courage & Confidence

Copyrights © dreamdesireachieve 2017

One thought on “B- Budget

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s