Off The Beaten Track

budgeting

Budgeting and your small business: Identifying objectives and managing performance

August 13, 2015 // 0 Comments

Budgeting is the bane of the business world. Despite the challenge of putting a budget together for your business and the pain of classifying costs, allocating spending and getting your paperwork in order, budgeting is beneficial for a business. Different organisations use budgets for different purposes, yet their function is more or less the same: a budget is sort of a guideline for organisations to be able to measure performance. A budget can help you identify challenges and solutions to [...]

Budgeting101: Understanding the 50/20/30 Principle

June 3, 2015 // 0 Comments

A lot of people are not quite sure how to allocate costs when budgeting. How much should go to to household and living expenses? Entertainment? To put a particular amount is tricky because income scales differ. Entertainment for a person who earns R10,000 a month isn’t the same as entertainment for someone who earns R60,000 a month. The 50/20/30 principle gives you a little guidance on how you should split up your budget. The 50 Percent: The Essential Expenses Half of your income should [...]

So You Want to Freelance?

May 3, 2015 // 0 Comments

This article first appeared on The Daily Planet website. Click here for original article.   I’m starting to think I may have approached this funemployment business with rose-coloured glasses. Freelancing is great because I work flexi hours, but nothing prepares you for the gaps in pay – no matter how ‘financially savvy’ you are. I’d like to share a few tips on how to manage money when you’re not getting a steady salary.   Budget for fixed and variable expenses Some [...]