Budget
Ron explains it all in just 60-seconds.
So what is a budget, really?
A budget is your business’s money game plan. It lays out what you expect to bring in, what you plan to spend, and how you’ll keep things balanced. Budgets aren’t just about cutting costs - they’re about making smarter decisions in advance.
Want to launch a new product? You budget for it. Expecting a slow quarter? Budget for that, too. A good budget gives you structure without locking you into panic mode if things change. It's a living tool, not a fixed sentence.
Even the most creative entrepreneurs need a budget — not to limit their vision, but to fund it. You don’t need to predict the future perfectly. You just need to stop winging it.
Not having a budget is like driving with your eyes closed and hoping the road curves your way.
How people actually use it in a sentence...
“Jared said he didn’t need a budget… then acted surprised when payroll hit like a freight train.”
Did you know...
The word “budget” comes from the Latin word bulga, meaning “leather bag.” It originally referred to the pouch that held your money.
Centuries later, your budget might live in a spreadsheet, but it still determines how much is in your bag.
Want the textbook definition? Check out Budget on Investopedia.com