Archive | April 2019

THE IMPORTANCE OF HAVING A BUDGET BEFORE SHOPPING

THE IMPORTANCE OF HAVING A BUDGET BEFORE SHOPPING

A budget is known to be a financial plan which is meant for a defined period of time. It could also include the projected sales revenues and volumes, expenses and costs and a host of other factors. Families, organizations and the government often make use of a budget to make strategic plans of their events or activities.

A budget can also be said to be a sum of money which is apportioned for an intended purpose, and also the abridgement of proposed expenditures with proposals and how to achieve them.

When it comes to any shopping activity, a budget is an essential component, and it is essential that before shopping, there is a thorough budget which contains everything you want to buy.

Below are the major reasons why a budget is needed before shopping:

  • It makes shopping simpler: When you work with a budget, you can be sure that the entire process of shopping becomes way easier. When there is a budget on ground, you would not have to stress yourself during the course of shopping, because you have sorted out the price and quantity which you need. Hence, all you need do is, pick the items you want accordingly.
  • It sets priority: Most times when we want to go shopping, we know what we want. However, there are times when the money we have is not enough for all the items we want. Hence, during shopping, we end up getting stranded when our money gets exhausted. Having a budget prevents that, as you would have everything planned out in order of priority before going shopping.
  • Control of your money: One feature which a budget gives, is total control of your money. When you have a budget, you would be able to know the exact amount needed for shopping, and also to save. A budget which is well stated, gives the owner full control of his or her shopping funds.
  • Aids you to save money: Having a budget helps you to save money. When a budget has been done before shopping, it would be required that you stick strictly to it while shopping, and it would be easy for you not to exceed your budget.