FMOOD 0018: The Importance of Annual Budgets - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.
from 2017-01-03T07:00
Today I'd like to focus on the annual budget. Most of us do a month-to-month budget, and this is still important, however it is recommended to get a high-level overview of the year ahead. When we do this, we focus on things that we may not have considered otherwise or we may forget about.
It's best to analyze the year ahead and plan for what will be coming up: birthdays, anniversaries, traveling for work, vacations, property taxes, and many more things that will affect your budget for the year. You'll feel empowered, and that's a great way to kick off the year when it comes to your budget.
It doesn't have to be perfect. This is meant to be a foundation for the upcoming year. You will likely need to tweak your budget month-to-month, but having that initial high-level overview of your annual budget is simply a smart way to plan. You'll be more prepared doing this exercise than you would be if you didn't complete your annual budget, and that's the bottom line.
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