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Budgeting is essential regardless of who's using it or where we use it. It's part of project management, regardless if it is a personal, business, or construction project. With its very many advantages, it's foolish to work on a project without having a budget. Thankfully, our website houses a wide selection of Project Budget Templates in Google Docs for whoever wishes to use them. These ready-made products will save you time since they already have suggestive content. Not only that, but these are also easily editable for your convenience. Subscribe to our high-quality templates now and start creating a reliable budget for your project!
In any case, you should always have control over your money and not the other way around. This is what the website, Budgeting Income, has to say about having a budget. Focus your attention on the project goals by creating a budget with the help of our guidelines below.
To get a project done, you will need to use various resources for it, and these need spending. Since you're making a project budget, it's crucial to plan the different resources you'll need. Make a list of these resources and indicate how much each unit costs.
Apart from the summary of resources and costs, you will also need to consider your income. In cases wherein you'll need to spend a lot, it's essential to have backup sources and not rely on your sole budget. This will ensure that you'll have more than enough money to finish your project.
Just before you create the actual budget, create a sample estimate of the total expenses first. If you don't know how to make one, our site also offers an entire selection of project estimate templates. With this, you'll have a better picture of the overall costs of a project.
Why use Google Docs to make your project budget, you ask? Well, the great thing about it is that since it's cloud-based, you can access it anytime, anywhere. Open the website, set the format, and make a table for the content. After doing so, input the necessary data.
After making the budget, share the file with your colleagues to present your proposal. But if you prefer to have better hands-on involvement, you can also show the budget sheet personally. This way, you can address concerns and clarifications right away.
This is a budgeting strategy introduced by US Senator Elizabeth Warren which involves allocating the money in different percentages. 50% of the money is for the needs, 20% is for savings, and the remaining 30% is for the wants.
The phases of a budget cycle are preparation, approval, execution, and evaluation.
According to Robert Kiyosaki, author of the Rich Dad, Poor Dad series of books, below are some budgeting tips to become truly rich.