Business, 31.12.2021 15:00 dai77

Part 7: Budget sheet After you have listed all the expenses and income on the income statement sheet in part 2, you are now trying to put those items into your annual cash budget sheet. This sheet helps you to see the bigger picture of your inflows and outflows of money. Moreover, this helps you to know how much you save each month, so that you can invest this money into stocks, bonds, ETF’s or mutual funds.

‘Budget’ means a forecast or estimate of the future receipts and payments. With this information, you can plan for the investments based on the surplus. If you find that the receipts may fall short of expenses, you may either reduce some discretionary expenses or look for sources of funds for meeting the deficit.

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Part 7: Budget sheet After you have listed all the expenses and income on the income statement she...

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