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Budgeting & Forecasting

All articles for budgets and budgeting so you can develop your own and avoid financial problems.

How To Create Your First Budget for Your Business

How To Create Your First Budget for Your Business

Budgeting & Forecasting / By

If you are running a business, you have concerns about the expenses for your business. It is not that simple to estimate your total budget and run your business smoothly. 

Why!

This is because the modern business world is full of competition, and competitors are moving fast to grab new opportunities. In addition, the audience is also getting excited and trying new things altogether. 

The days are gone when people only trusted one or two brands to complete their whole lifestyle. This is the era of innovation, an era of digitalization and Blockchain. Previously people were very defensive, and they only preferred to keep their savings in the banks. 

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budgeting finance

3 Things You Should Never Skimp On When Budgeting

Budgeting & Forecasting / By

Budgeting is fundamentally a smart idea and a necessary practice. If you don’t budget, then your spending can easily get out of control, and you may not be able to save for the future at all. You might find yourself looking into a consolidation calculator or similar tools to try and regain control over your finances.

When budgeting, you may want to look into certain cost-cutting measures as shaving money off your expenses means you’ll have more flexibility with the cash you bring in.

However, there are a few areas you should never skimp on when you’re budgeting. We’ll discuss three of those right now.

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Marketing Budget Be Treated Like a Poker Bankroll

Why Should Your Marketing Budget Be Treated Like a Poker Bankroll?

Budgeting & Forecasting, Marketing / By

Many big brands have made big mistakes in the past, with extensive campaigns going down the drain due to one wrong step. Thanks to these unfortunate errors navigating your way through the wrongs and rights just became that much easier. Throw in a bit of poker logic, and you’ve got a winning marketing campaign. 

Even if the ad is small in marketing, the bet is considerable, with small ads becoming big stories overnight. Poker players avoid losing lump sums through risk calculation and bankroll management. That means that a player with $2 million in the bank doesn’t sit at a 2 million dollar chip table and then go all-in on the wrong hand.

Your company should play according to the same rules. Disciplined bankroll management and calculated risks are vital to keeping the budget in the market as in poker while seizing opportunities that deliver high returns on investment.

Here are a few interesting lessons you can learn from poker players that will help you learn how to manage your bankroll when laying out your marketing strategies. 

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5 Important Considerations for Your PPC Budget

5 Important Considerations for Your PPC (Pay-Per-Click) Budget

Advertising, Budgeting & Forecasting / By

How much should you spend on an advertising campaign? That’s a common question many businesses and marketers face, and the answer isn’t always apparent. Sometimes, project goals change, and a company needs to adjust its strategy to remain within budget. To avoid overspending on your PPC campaign, consider these 5 factors to stay on your targets.

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Long-Term Budget Planning

Long-Term Budget Planning

Budgeting & Forecasting, Finance / By

Many people plan their budget. However, they usually only consider goals for the upcoming year, thinking that it is hard to plan for a longer period.

To develop a long-term budget plan, you need to plan for a 5-10 year horizon. It is important to look at both short- and long-term goals, and make sure your plans balance what is most important to you and your family with what is most important to your business.

I want you to take a look at your budget plan. What does it say about your financial goals? What does it say about your future? Do you really have a plan, or is it just a piece of paper with random numbers scribbled all over it?

If you’re having trouble planning out your long-term budget, here’s how to get your finances under control.

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