Wednesday 1 July 2009

Budgeting for Future Success

Today's world and workplace are considered a "global village." Telecommunications and air transportation make finance, technology, and labour available to a world economy. Increased knowledge and skills will be required to compete in the changing workplace created by the world economy.

To be prepared for a career in this new world, people will need a variety of skills. The use of budgets is one such necessary skill. Allocating money, solving problems, and making decisions are skills needed to create and use either a personal or business budget. These skills are also critical for people who want to be ready to achieve personal and professional success.

If you learn good budgeting skills and are able to apply them to different situations, people will take notice. At your current job, you can impress your employer by suggesting possible budgeting improvements. If you help your boss now, he or she will help you later. Maybe your boss will write you a good recommendation for a future job. Or perhaps he or she will help you find a good job when you finish the present posting. Whatever the case, using your budgeting skills now can only benefit you in your future career.

You will also find that balancing your current budget, no matter how little money it may involve, will help you balance your personal budget in the future. You will be making more money when you begin your career, but balancing your budget then will involve the same steps that it does now. That way, when you do begin to earn more money - and possibly even have to balance a budget that includes a spouse and children - you will be well prepared to do it.

Success with budgets can be achieved. Many people start with basic personal budgets when learning to budget money. Tracking budget items and adjusting the budget over time gives experience that can be used with more complex budgets. Budgeting your allowance prepares you to budget when you have income from a job, for example. And budgeting part-time earnings prepares you to budget for your own business someday.

A budget may not make you rich. But when used with creativity, budgets can provide a sound basis on which to make decisions that will be easy to live with.

Good budgeting skills will get you noticed in the highly competitive workplace. Questions to ask yourself:


  • How can knowledge of budgetting help you in your career?

  • Would budgeting help you if you owned your own business?

  • Would a budget be useful if you had a family of your own?

1 comment:

Anonymous said...

Thanks for sharing such great post, according to me budgeting doesn't mean that you have to compromise your needs but it is important for planning financial life. Household Budgeting means to create a planning for the money spending. Build emergency fund, minimize the use of credit card, planning, etc. are the tips for making personal household budgeting. For more details on Household Budgeting refer personal budgeting