PERCENTAGE Thirty percent (30%) of the wedding budget goes to food and venue, twenty-five percent (25%) of the wedding budget goes to the photographer and twenty-five percent (25%) of the wedding budget goes to the dress. Stick to this wedding budgeting tactic. No ifs no buts. Don't overspend on souvenir or invitation. There are different stages of the budgeting process: - plan - execute - review - report the ogranization's financing, investing and operating activities The planning stage Budgeting pertains especially to the planning stage. Budgets are tied to long-term and short-term plans to achieve the desired success factors related to quality, cost and time. To them, budgeting finances is simply laying out the money on the table, apportioning them in envelops, and labling each envelop with Bills, Rent, Amortization, Transportation, Food. But budgeting finances require a pen and a notebook. Input the incoming money and the outgoing money, find the difference, and voila, your personal budget right in front of your eyes. Forecasts are significant because they predicting things like the next wave of technological change, the weather, and natural disaster, all of which can have important economic and budget implications. Thus, budgeting and forecasting always go hand in hand. Since the lifeblood of any business is its ability to collect cash and pay bills including the pay checks of its employees, it is important to prepare a forecast of its cash requirements whether for a new or ongoing business. Budgeting software is an automated solution nowadays that will help you keep a systemized maintenance of your budget. By using budgeting software, you can track your income and outcome. Credit cards make it easy to spend on impulse but by using a good program, you can reduce your expenditures because you can analyze your financial situation with ease. For children (how and when parents should teach them about budgeting money) Budgeting money should be taught to kids as soon as possible. They do not automatically become financially responsible. You can start discussing on budgeting money on an ongoing basis. Children ages five to six years old can already understand this issue.