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Get to grips with budgets by A & C Black Publishers

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2 Drawing up a budget for the first time

The very mention of the word ‘budget’ can cause hackles to rise at work. Many people feel constrained by budgets, thwarted by them, or in thrall to them. Why? Because a lot of what we want to do at work can be scuppered by budgets, or the lack of them. We often hear ‘the budget won’t stretch’, when people don’t want to say that we just can’t afford something. One thing to remember is that ‘budget’ has two senses: it can mean a limit within which you have to work, as well as a target you have to aim for.

Here, we’ll be looking at the first sense—how to work out how much you have to spend on something (and stick to it). The best way to be able to work within budgets is to understand them more. This will ...

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