Trusting the budget - method
We made some changes, and want to be sure that the "to be budgeted" is correct. I know it is basic, but I forgot what method we use to make sure our budget can be trusted?
Thanks!
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Hi AMS,
If your accounts, on the left, are reconciled and up to date, that is verification you are only budgeting the money you currently have. There have been times recently when I had so much money coming and going in my budget (insurance claim for water damage) that my head was spinning and wasn't sure how much I had. I reconciled my accounts daily and trusted the numbers. It got me through.
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TryingToGetAhead THANK YOU!
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Sometimes I finagle things too much and get paranoid I'm budgeting imaginary money (especially when it comes to reimbursements!). If you really want peace of mind, try the following:
- Sum up the available cash in your accounts
- Sum of "Available" for this month + Sum of "Budgeted" for future months = B
These 2 numbers should match!
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Snippy Thank you very much. I guess I needed reassurance... It's all good now!
