Lesson 37 : Management Process Applied To Budgeting

Implementing The Budget Or Financial Plan


The feedback comes continuously while spending. This should be kept in mind and several questions should be answered like

  1. Did the shopper buy an impulse?
  2. Were the estimated prices unrealistic?
  3. Was there an increase in price rates? etc

Then decisions should be made in such a way that the budget and income are inline with each other. The plans may be changed depending on the feedback received. Adjustments are to be made while carrying out the plan keeping in mind the goals of the family. The adjustments themselves will need to be evaluated in feedback after action.

Last modified: Thursday, 22 March 2012, 10:21 AM