Coupons and sales are helpful in budgeting money. Read the weekly ads from your local stores and spot sales. Non-perishable items on sale can be bought in bulk and stored in your cupboard. For students: It will help you in budgeting money if you can get a job. A job does not only involve earning more money for you to spend outside of the money your parents send you, but it can help you boost your career potentials when you graduate from college. It does focus mainly on money but should also not neglect the ambience of your chosen residence. For those who live alone, then you have to be more considerate and more price-meticulous of the place that you will live in. You also only need to live in a place that has space for only one person. Living in a big house alone is very insensible and costly. The light isn t much but it is enough for you to see your surroundings. You get to be satisfied with the dim light it produces. To get to the point, you learn to be satisfied with little things. Another hurray for budgeting tips! It can develop your well-being. The same thing happens when you do not allot the right payment for water. The determination of the level of detail needed and communicated is essential to the success of the process. Budget information is used to communicate responsibilities to individuals who are accountable for a particular segment of the organization. Performance measures are also carefully selected to motivate individuals or teams to achieve targeted goals. On-line tools also means easy access to information from anywhere, at anytime which allows you to always know exactly how much you have left to spend. At the same time, it will make informed spending decisions based on your budget entries. There really is no need for you to invest in a fancy budgeting tool in order to do a budget, but a good one will make the job easier. The Australian National Audit Office has identified the advantages of activity based budgeting: The Advantages - Output costs are supported by a schedule of costed activities - Opportunities to examine work processes - Identifies non value-adding activities that can be eliminated - Basis of a performance measurement system and direct link between strategic goals and operational realities - Enables cost profiles to be managed - Accurate costing data for operational management - Costs are transparent, understandable and actionable Disadvantages - Activity definition may become too detailed and the model may become too complex and difficult to maintain - Underestimation of the task of collecting activity driver data - Implementation may be considered a financial management fad and there is insufficient commitment from operational managers Activity Based Budgeting Disadvantages - Usually requires buying Activity Based Budgeting software - Requires training of all managers including budgeting department - Requires people to really understand what drives their budget - Eliminates excuse that activity volume changed because it makes visible volume changes - Requires everyone to collect or estimate activity volume By understanding how resources are transformed into products or services, and byfocusing on the cost of activities, activity based budgeting helps an organisation to obtain a greaterunderstanding of how costs behave in their organization and which activities create significant amounts of cost.