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What do you think is the major purpose of financial statements? Why?
Weegy: The purpose of a financial statement is to enable a business to establish the result of its operations over a period of time and to determine its worth at a specific date. [ Financial statements are often prepared by business people to assist them in evaluating their financial condition. ] (More)
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Asked 4/3/2012 6:47:37 PM
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When looking at a company for investment, is it better to look at the financial reports or annual report or both?
Weegy: You will need to look at both! (More)
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Asked 4/3/2012 9:22:00 PM
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What is the standard form for this quadratic equation using x as a variable? -11 and -5 the quadratic equation is _=0
Weegy: x^2 + 16x + 55 = 0 is the std form quadratic equation for the given using x as a variable -11 and -5 (More)
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Asked 4/7/2012 12:23:09 AM
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Why is budgeting so important?
Weegy: A balanced budget is achieved by comparing your current income to your expenses and ensuring that the amount you spend does not exceed the amount you make. [ Balancing your monthly budget helps you meet your financial obligations without confusion or unintentionally taking an overdraft from your bank account. Ads by Google Need to pass Series 24? The Series 24 is a difficult exam, we have the tools you need to pass Plasterboard Recycling One of the largest gypsum recycling facilities in the world. Nationwide royhatfield. com Teaches Debt Management Skills Your debt management skills determine how you balance your debts with your income. The act of budgeting teaches proper debt management and helps you avoid the unpleasant consequence of relying too heavily on credit cards and loans to pay your bills. In turn, you will possess less outstanding debt and have a lower risk of bankruptcy. Reduces Stress When you balance your budget, you know exactly how much disposable income you have to spend each month. This allows you to enjoy luxuries such as a vacation or an evening out without the guilt and stress associated with wondering if you will be able to afford such expenditures. Allows You to Catch Errors Early When you balance your budget regularly, you are more likely to catch banking errors or other financial errors that may work against you. Catching such errors early gives you the opportunity to correct them and protect your money from disappearing due to a computer glitch or careless data entry. ] (More)
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Updated 4/8/2012 9:31:10 PM
1 Answer/Comment
Budgeting is not just about money it is also about time. Many people are not aware of the importance of budgeting. Let us explain why a budget is so important.

A budget helps you to look ahead and formalize your future goals. Budgeting is popularly considered as a successful way for saving money, eliminating debt and creating a good financial situation. By creating a budget you can set your goals for achieving a good level of income and monitor your expenses. It is seen that many small business owners and home based businesses have become successful with the help of good budgeting.

Many people find it difficult to stick to a budget they created. But if successfully tackled, a good budget will help you to attain a good financial position in the future. A good budget also ensures you a debt free life.

A good budget is important as it will help you to:

- Know how much additional money you have to attain your financial goals.
Added 4/8/2012 9:31:10 PM
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