Accounting Research Paper

In: Business and Management

Submitted By mmurp380
Words 323
Pages 2
fin 1060
Budget Killer Quiz
My main budget killer is spending money without a plan. Although I am usually tight with spending, I sometimes buy wants rather than necessities. My budget calculations from last week proves my weakness of unnecessary expenses such as Entertainment Expenses, going out to eat and the movies. If I plan to start now, rather than holding off financial planning which is another budget buster relevant to my case, my budget will improve. I can also work on my lack of discipline and not eat out as much, which will reduce my expenses. By creating a financial plan now rather than holding off and improving my lack of discipline, my budget will remain stable. My main budget killer of unplanned spending is similar to my friend Sesen's budget killer problem. We both share the same budget issues, possibly because we are under similar financial circumstances. We are both students receiving support from our parents and loans for financial help, so we don't always realize what exactly we're spending our money on.
I think the tracking spending lessons from the Cash Course will aid both of us most in improving our financial planning. Deciphering small amounts spent throughout a couple weeks’ time will show us where exactly our money is going. For me, I can be able to see how much going out to eat and movie tickets add up. I can then use this information in my budgeting, and possibly develop a control system to reduce my expenses. For Sesen, she will be able to see her costly daily caffeine addiction to C.C.'s. After we track our spending, my friend could further receive help from the lesson of identifying needs and wants. I think that if Sesen could write what she thinks are necessities from her tracked spending and possibly transfer them to wants, her expenses can be reduced and her limited budget will be…...

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