Seasonal Expenses: Shocking 155% Variation Not To Miss

When I started creating budgets, I used a simple technique to help cast a new monthly budget: I applied what happened last month and used the same figures for the next month! This was a very lazy approach to forecasting, and soon I discovered that some expenses changed depending on the season. Seasonal expenses or …

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Budgeting vs Forecasting: What’s The Difference?

Monthly Budgeting Performance Macquarie Bank Account for June 2021

When it comes to managing your finances, there are two concepts that you should know about: budgeting and forecasting. Forecasting is the ability to predict how your money will be spent in a certain future period, whereas budgeting, is the process of managing your money according to what has been forecast in a budget. What …

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