1. Why do companies and businesses create budgets, what is the importance and how do budgets help businesses be more successful? Provide at least three examples.
2. What behavioral problems are associated with (1) setting a budget too loosely, and (2) establishing conflicting goals within the budget?
3. Do you believe in household budgets for yourself and do you think budgets are helpful to stay on track so one doesn't overspend? Do you ever compare the amount of money you make versus how much money you spend? If so, how do you do that? If not, why might it be important to do so in the future?