When you’re making a budget, things don’t always work out like you thought. You might have surprise costs come up, or your income might change. So, it’s good to be flexible and willing to make adjustments as needed.
Flexibility in Budgeting: Making Adjustments as needed
- Thread starter SilverLance
- Start date
-
- Tags
- financial talk
- Joined
- Sep 25, 2023
- Messages
- 25,806
- Reaction score
- 2,261
- Trophy Points
- 147
- Location
- Philippines
- D Bucks
- 💵8.495450
- Referral Credit
- 100
It is essential for everyone to be flexible as we delve on the the solutions of the impending prices that hurt our pockets. We need a flexible budgetting to prepare for the worst in case it cannot be avoided. It is better that way to always have something on our plates rather than the abuse of shaving despite of the fact that the income is very limited.
When a budget is rigid, there is every tendency that the budget would fail because nothing is assured and there is need for tweaks as occasion demands in financial planning.
- Joined
- Oct 1, 2023
- Messages
- 5,014
- Reaction score
- 494
- Trophy Points
- 34
- D Bucks
- 💵13.016525
- Referral Credit
- 0
Flexible budgets are often designed if expenses always change according to the activities carried out, the more activities the more expenses, so it is necessary to create variable costs.
There is no way that expenses would not change at a certain point. No one can tell for sure the direction of the economy. You must always give room for adjustments in your budget.
Sometimes, how much money you spend can change out of nowhere. That's why it's crucial to keep checking your budget and making changes when you need to.
- Joined
- Sep 25, 2023
- Messages
- 25,806
- Reaction score
- 2,261
- Trophy Points
- 147
- Location
- Philippines
- D Bucks
- 💵8.495450
- Referral Credit
- 100
We need to be flexible in our budgeting. Even if we have good earnings but we have to adjust our spending habits to avoid losing money buying nonessential. It is good to spend but regrets follow after.
Yes, we need to be flexible with our budgeting. Prices may go up or down. And there may be some unexpected expenses.
Nomad
Moderator (Earnings Enforcer)
Staff member
Earnings Enforcer
Gold Supporter
Literary Virtuoso
Registered Member
Yes, based on your previous month financial performance and expenses, you can make adjustments on your budget but when you make a budget you should stick to your budget until you make another one for the another month
- Joined
- Sep 25, 2023
- Messages
- 25,806
- Reaction score
- 2,261
- Trophy Points
- 147
- Location
- Philippines
- D Bucks
- 💵8.495450
- Referral Credit
- 100
We need to stick to our budget. Let us not decode impulsively that may harm our budget. There are times we cannot follow our budget if there is a small party at home like a birthday party.
To make a lot of things work yoj need to flexible with it and you would be making adjustments where necessary
There is no budget that is ever implemented with the figures on paper being what is spent on ground. Realistic budgets are always flexible.
The reality in a budget is the ability for the budget to give room for slight adjustment on both ends as long as there is sincere desire to implement the budget.
