Oh, snap!
I haven’t even reviewed my rolling budget. We are almost into the 3rd month of the year! Where does time go? I chose a rolling budget because it is flexible, not static. Therefore, it continues perpetually. In addition, I am able to build my numbers for the next period.
Budgeting is so not sexy. However, it is a necessary evil.
Your best bet is to keep it simple. Microsoft Office has a plethora of free templates available. Additionally, you can find templates from Google Docs.
Fortunately, we have several options:
Master Budget
This Master presents a complete picture of financial activity and health. Master budgets are often used in larger companies.
Operating Budget
These are forecasts and analyses of projected income and expenses. These reports are reviewed month to month.
Cash Flow
A cash flow projects how and when cash comes in and flows out. It may be useful in helping you to determine if you are managing your cash wisely.
Financial
The Financial will present your business strategy for managing assets. Also, cash flow, income, and expenses. Hence, this establishes a picture of your business financial health. Additionally, it gives you an overview of your spending.
Static Budget
This is an unaltered and fixed. This is regardless of any changes in sales volume or revenue.
What to Include in your budgeting plan:
Income Sources:
- Hourly Earnings
- Product Sales
- Investment Income
- Loans
- Savings
- Other
Fixed Costs:
- Rent/Mortgage
- Utilities
- Salaries
- Internet
- Government and bank fees
- Cell phone
- Accounting Services
- Website hosting
- Legal Services
- Insurance
Variable Expenses:
- Raw Materials
- Contractor Wages
- Commissions
- Advertising
- Other Marketing Costs
- Transportation
- Travel & events
- Printing Services
One-Time Spends:
- Computer
- Furniture
- Software
- Office Supplies
- Gifts
Happy Budgeting My Friends – E