Do you have a budget?
It is quite uncommon to see people talk about budget and have you wonder if you really do have a budget or not.
A budget is common to everyone as long as you do receive and spend money, but not necessarily a written one.
What’s a budget?
Accountants define budget as the statement showing the financial blueprint of an individual or organization.
It is simply a statement that shows how much you are expecting as income and how much you want to spend.
Now you get that. Possibly you have a budget you are thinking about now but you do not refer to it as budget because it is virtual and not a written one but most people use virtual budget.
How is virtual budget possible?. Yes, it is possible.
Virtual budget are not written down and it occur when you use your mind to set the amount to be expended and the amount to be saved if there will be any savings. All your spendings will done based on how you projected it in your mind.
If you will agree with me, there are times that you spend beyond what you intend to spend and what happen those times is that your savings will be the one to suffer for it and that is where the wise man’s budget comes in.
A standard and most appropriate budget must have a miscellaneous expenses which will be set aside for unforeseen circumstances and situation so rather than spending out of your savings or reducing your savings, you can make a budget to include miscellaneous expenses. It will protect your savings and at the same time help you to track your expenses and other minor things.
Kurepay allows you to track all your transactions, both incoming and outgoing. This feature helps you in creating and maintaining a budget.