please improvise and

estimate, based on visualizing your unique career aspiration.

$1.)$ A budget helps you figure out your long$-$term business goals and work

towards them. A budget forces you to map out your business goals, build your

cash flow, and keep track of your progress.

$2.)$ A budget ensures that you control your business expenses. My observation is

that far too many businesses spend money they don't have$$and we can owe it

all to poor financial management.

However, if you create and stick to your business budget, you'll never find your

business in this precarious position. You'll know exactly how much money you

earn, how much you can afford to spend each month and how much you need to

save.

$3.)$ Budgeting your business cash flow can lead to a happy retirement. As

important as it is to wisely spend and invest your business cash flow, it's also

critical to save for your future. A budget can help you do just that, by building

investment contributions into your business budget.

If you set aside a portion of your earnings each month to contribute to your IRA,

$401($k$)$ or other retirement funds, you'll eventually build a nice nest egg. Although

you may have to sacrifice a little now, it will be worth it down the road.

$4.)$ Budgeting helps you prepare for business cash flow emergencies. Your

business budget should include an emergency liquidity fund consisting of at least

three$-$ to six$-$months of business expenses. Extra liquidity provides a buffer

against unexpected, unplanned business expenses.

$5.)$ Budgeting sheds light on poor business spending habits. Building a budget

forces you, the owner$-$manager to take a close look at your business spending

patterns to control expenses.

$6.)$ Following a business budget will also help you, as the business owner, to

achieve piece of mind and freedom from worry. When you budget your business

cash flow wisely, you'll feel proud, accomplished, and entrepreneurial success.

Steps in creating a budget

Follow the steps below as you set up your business budget:

$1.)$ Make a list of your values. Write down what matters to you and your

business, and then put your values in order.

$2.)$ Set your business goals.

$3.)$ Determine your income projections$/$expectations$.$

$4.)$ Control your expenses.

$5.)$ Create your budget.

$6.)$ Annually, review and $$tweak$$ your budget.

Implementing the budget plan

Search the Internet for a suitable budget spreadsheet you$$re comfortable with.

Month$-$by$-$month, horizontally list your income first. Next, begin compiling a list of

your expense categories. Once your expense categories are detailed, mindfully

and accurately detail your expenses