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Difference between ideal budgets and real-world ones

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Reference no: EM133006583

There is sometimes a big difference between ideal budgets and real-world ones. In a 2009 survey by 

Business Finance magazine, readers made the following statements about how their budgeting practices had recently changed:

  • Two-thirds said their budgets would become obsolete before the year was half over.
  • Over 40% said they had not made big changes in their budgets even thought the current economic conditions have significantly effected their expenses.
  • Almost a quarter added updated or interim reports.

Can you relate to any of these budget related issues? Have you had similar experiences? If you have a budget, have you made changes to it recently or should you have? If you don't have a budget, do you see value in having one? What are some of the big budget issues today which are effecting the budgeting of individuals or companies? What can or should be done to solve these issues?

Reference no: EM133006583

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