From the course: Business Math

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Create, monitor, and evaluate your budget

Create, monitor, and evaluate your budget

From the course: Business Math

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Create, monitor, and evaluate your budget

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- Let's be honest, budget is not a fun word. Imagine giving the average person the choice of one of the following: Go to the dentist for a root canal, give a speech in front of 1,000 people, or prepare a personal budget. For most people, this three-way choice is a battle for last place. Very few people want to do any of these three things. Budget or root canal, that's a tough choice. One reason for this dislike of personal budgets is that the news is almost always worse than you've imagined. In casual thinking, wishful dreaming, really, our personal finances are fine. A budget is likely to make us face some unpleasant, short-term realities. But that's precisely why a personal budget is a good idea. Life works better if you know the true status of things. Problems ignored never get better. The leaky faucet in your kitchen doesn't fix itself. That research paper doesn't write itself. And financial problems don't magically go away by themselves. A personal budget helps you do three…

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