A budget (from old Frenchbougette, purse) is a list of all planned expenses and revenues. It is a plan for saving and spending.[1] A budget is an important concept in microeconomics, which uses a budget line to illustrate the trade-offs between two or more goods. In other terms, a budget is an organizational plan stated in monetary terms.
In summary, the purpose of budgeting is to:
- Provide a forecast of revenues and expenditures, that is, construct a model of how our business might perform financially if certain strategies, events and plans are carried out.
- Enable the actual financial operation of the business to be measured against the forecast.
A Budget! What the heck is that? Do we have a budget? It doesn’t feel like it. I just need to work and work somemore. This wedding process starts small and then expands faster than the money is coming in? Planned Expenses and Revenues… There are no planned revenues just planned expenses. Who made up this definition anyway? I think the dictionary must have made a mistake. Is this reality. Someone pinch me, the nightmare has to end.
Ok, so my rant is over! But really, I don’t know about planned revenues but the expenses get planned real well. Men, how much of this are we really going to benefit from in the long run. That big screen TV could have been sitting watching me when I have had a bad day. Or, even worse that new car to replace my gas guzzler would look real nice compared to the debt that comes from this crap shoot.
So, why the heck do we go through all this? It is all for the look on our faces in front of those we love. That first look either before the wedding or as she walks down the aisle, is why we break our necks. It is worth it, of course. If is fiduciary responsible? What does fiduciary mean anyway?