The most important part of a budget plan is knowing how much your income is and how to spend it. Without the knowledge of these two concepts, there will be no funding for a business, which results in no business at all.
I have my own personal budget, that can easily relate to an entrepreneurship budget. Through my bank, I have one checking account and two savings accounts. Savings Account 1 is my “back-up” checking account and I use this if I don’t have enough money in my checking account. Savings Account #2 is not accessible through mobile banking and I use it to save money for vacations and rainy days. I receive a certain amount of money my job at Harris Teeter every Tuesday. When I receive a paycheck, I have my bank automatically take $25 out that day and put into Savings Account #1. Every other Tuesday, another $25 comes out and goes into Savings Account #2. All of these transactions are available to me by a paper statement in which I save in a file. This is important and can be related to an entrepreneurship budget because it is important to see expected income and expenses.
Along with the module videos, I also watched this video on Youtube which explains how to reach your financial goals as an entreprenur