Why Budgeting and Sound Financial Practices are Crucial

Why Budgeting and Sound Financial Practices are Crucial

Folks, all you have to do is look at the US debt and look at the fact that we have lived "beyond our means" for sometime now. You can't continue to operate without a plan for your money! It gets you in trouble as a household or as a country! The US is $16 trillion in debt!
Companies go bankrupt everyday because they operated on the assumption that a budget wouldn't work, was too time consuming, too much bureaucracy, etc.
It's time that we have professors in our universities that have experience in the real world and quit hiring these "financial philosophers" who operate on "theory" and have no idea what it is like to operate within limits, meet a payroll, develop realistic five-, and ten-year plans, etc.
We still have to operate according to sound business principles. Just because the airplane has been invented doesn't mean that gravity has somehow ceased to exist or apply to us!

		Comments Sort by date Sort by rating Rating
		0 Isaac Asante Financial Consultant, Ghana
	Why Budgeting is Important Every management tool has weaknesses. The point in budgeting is to count the cost before going into ... Sign up

		0 Sergey Baltin Manager, Russian Federation
	That's Simple - Its a Drug I totally agree, but this is from the point of view of non-government person. If you are in a govern... Sign up

		0 Tim Jones Consultant, United States
	That's Simple - It's a Drug @Baltin: you are right concerning politicians. You are correct in the electorate being a drug. Getti... Sign up

		0 Benjamin Ogudoro Nkemakolam Financial Consultant, Nigeria
	Budgeting Still Relevant The relevance traditional budgeting depends on the method of application. Rolling budgets can solve... Sign up

		1 Dario Gragnani Manager, Italy
	Why Budgeting is Useful Budgeting is useful. 'You cannot manage what you do not measure'. Budgeting requires to analyze and ... Sign up

		0 Andyson Mupeta Student (MBA), Zambia
	Budgeting is Still Useful Traditional or not it, budgeting remains a helpful means of operationalizing the company activities ... Sign up