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PREVIEW 2nd quarter April June 2013 Quarterly newsletter from Superior Choice Credit Union Have You Budgeted for Retirement? Presented by Dennis Archer It's important to think about what you'll need
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Have you budgeted for refers to the process of allocating funds for different purposes, such as personal expenses, business costs, or government expenditures.
Budgeting is a practice that is not only important for individuals, but also for businesses, organizations, and government entities. Therefore, anyone who wants to manage their finances effectively should consider budgeting.
To fill out a budget, you need to list your income sources and categorize your expenses. This can be done manually using pen and paper or with the help of budgeting software or spreadsheet applications.
The purpose of budgeting is to ensure that financial resources are allocated efficiently and effectively. Budgeting helps individuals and organizations plan for their future expenses, set financial goals, and track their spending.
The information that must be reported on a budget includes all income sources, such as salary, investments, or rental income, as well as all expenses, such as rent, utilities, groceries, and discretionary spending.
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