Flow Planning

of Budgeting
What is Flow Planning of Budgeting?

The budgeting process focuses on developing corporate strategy,

creating an annual budget, approving the annual budget, and
monitoring budget-to-actual results. There are specific practices,
process flows, and performance measures to follow when setting the
budgeting process flow.
Steps on how to make a Flow
Planning of Budgeting
   is a process with designated
organizations and individuals having

Budget defined responsibilities that must be

carried out within a given timetable. This
process is normally established and
Preparation controlled by a legal and regulatory
framework.
Step 1

Set your financial goals: Before starting the budget planning

process, it's important to define your financial goals. This can
include saving for retirement, paying off debt, building an
emergency fund, or saving for a large purchase.
Step 2

Determine your income: Calculate your monthly

income from all sources, including your salary, bonuses,
side hustles, and investments.
Step 3

Track your expenses: Record all of your expenses for a

few months to get an idea of where your money is going. You
can use budgeting apps or spreadsheets to help you keep track.
Step 4

Categorize your expenses: Divide your expenses into

categories such as housing, transportation, food, entertainment,
and debt repayment.
 is one of the four stages involved in the budget
cycle of the government, the others being budget

Budget preparation, budget implementation and

accountability. As the term suggests, legislation is the
process of making the proposed budget into law, just

Legislation
like any other legislation. When the budget is passed
as a law, government spending of public funds
becomes authorized as mandated by the Constitution.
Step 5

Set your budget limits: Based on your income and expenses,

set limits for each category in your budget. Make sure your total
expenses do not exceed your income.
Budget is the process of monitoring,
adjusting, and reporting on the
current year's budget.
Execution
Step 6

Prioritize your expenses: Rank your expenses in order of

importance. This will help you make decisions about which
expenses to cut back on if necessary.
Step 7

Adjust your spending: Monitor your spending and adjust your

budget as needed. If you overspend in one category, find ways to cut
back in another.
Budget
Accountability
is the linkage between the numbers in an
approved budget and the managers who
are responsible for ensuring that the
budget is achieved.
Step 8

Save for emergencies: Set aside some money each month for
unexpected expenses, such as car repairs or medical bills.
Step 9

Save for long-term goals: Allocate some money each month

toward your long-term financial goals, such as retirement or a down
payment on a home.
Step 10

Review your budget regularly: Review your budget on a regular

basis to ensure you're staying on track and making progress toward
your financial goals. Make adjustments as needed to stay on course.
Thank you for
listening