Posts Tagged ‘spending plan’

Unnecessary Spending

If we look closely we can see personal spending that was unnecessary. In business it can be more difficult to identify unnecessary spending. Ever wonder why? Read the rest of this entry »

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Out of Control Expenses

Expenses are one of those things that sneak up on us. For a few months everything may seem reasonable, but suddenly everything seems to change for the worse and you have out of control expenses. You’ve probably experienced this on a personal level. You may find yourself asking, Read the rest of this entry »

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Have a Lean Business

Have you ever tried to lose weight? If so your experience may have ranged from easy to difficult. When it comes to reducing costs a business may have a similar experience. By costs I’m referring to both product cost and expenses. Why do some businesses find it easy to reduce costs while others struggle and eventually stop trying?

Think Lean and Communicate It

Like losing weight reducing costs starts with Read the rest of this entry »

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Budget, Spending Plan or Rolling Forecast?

In essence a budget is an estimate of expected income and expenditures over a specific period of time. The level of detail varies from company to company. Budgets may be created for a month, year, or even several years. Let’s face it though, when attempting to budget several years out the reality is very suspect, especially with how fast things change now. Also, I’m amazed at how often a lot of time may be devoted to preparing a budget, only to find it is never really used.

Another problem with budgets is that they can sometimes be unrealistic for several reasons. One, it could be just the Read the rest of this entry »

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