Write down your personal budget for

(a) the week ahead, and

(b) the month ahead. Show money coming in and money going out. How difficult is it to prepare a budget? What problems did you encounter? To what extent is uncertainty about the future a problem?

In the example which follows there is no uncertainty – it assumes the future may be forecast precisely. Work through the example and then consider how much such an exercise would be affected by uncertainty in the real world.