A flexible budget adjusts to changes in actual revenue levels. Actual revenues or other activity measures are entered into the flexible budget once an accounting period has been completed, and it generates a budget that is specific to the inputs. The budget is then compared to actual expenses for control purposes. Keep reading to learn more.
Read MoreDo you need a personal budget consultant? It’s something of a loaded question, isn’t it?
So rather than drag it out as proper blogging methodology suggests, let me offer you my response to the question right up front. Do you need a personal budget consultant? Probably not. On the other hand, do you need a personal budget? Absolutely.
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