Preparing Budgets (Junior Cert Business Studies): Flashcards

Updating & changing your original budget plan

Budget updated to account for unplanned events

When significant changes occur to income or expenses

Bonus, pay rise, or starting a part-time job

Reduced working hours or job loss

Medical bills, car repairs, appliance breakdowns

Lower energy bills or reduced mortgage rates

Identifying what has changed from original budget

Adjusting the income and expenditure amounts

Balancing budget to ensure income covers expenses

Planning whether changes are temporary or permanent

Flexible documents that change with your circumstances