This type of retirees relies solely on their social security pension and, worse, if they weren't an active contributor to the social security system, will have to submit their fates to homes for the aged. No one wants to be listed in this type of retirees. We all want to spend our retirement traveling around the world, relaxing on a cruise, or simply go fishing on a lake which is just a few meters away from our own comfy cottage. Budgeting Tool The Easy Way to Keep Your Budget There's no getting around it: a budget is a requirement for good money management. There's no need to have a negative attitude about budgeting. Stop thinking about budgeting as a difficult task or a punishment for being an impulsive spender. And stop thinking about it as a financial diet. Before you leave the house think about the route you will be taking so you can use short cuts, avoid traffic jams and do important things along the way (like pay the bills, etc.). It saves gas and time. Check your user's manual for the car's necessary maintenance. Regular tune ups and oil changes will help prevent costly damages to your car in the future. your groups can be work-related, shopping, utility bills, insurance, car maintenance, meals, or any groupings that actually make sense to you. After you have listed your expenses in a month, and having been able to group them, get the total of it all. Hopefully, it is less than your income in that particular month. Without a budgeting and forecasting system that can quickly give the reflection of the expenditures of a changing business condition, it is impossible to determine the impact of such events on the bottom line and quarterly results. Far too often small business gain good profits, but they do not have enough operating capital to meet their needs. Anything beyond five years generally is impractical because of the possible change in economy in that time span. There are many benefits of business budgeting. Developing a budget for your business on an annual basis allows you to review the business' overall operations. Budgeting also permits you to identify those factors that are key to the success of the organization.