Personal Budgets:
A budget is formatted on a percentage of your Income.
In general terms we allocate the same percentage of disposable income regardless of location, allot the same percentage for utilities and living expenses etc regardless if we live in Auckland, Invercargill, California or Perth
Personal Budgets should be allocated quarterly with a quick revision every MONTH. Save 10% - you know this drill.
The NZ Herald states "Pak'nSave is no longer the undisputed home of cheap food."
We tell you to shop around, never impluse buy and we know you know this.
We tell you to rationalise each purchase - you know the differance between need and want.
We know, you know; we know: we can all do better. So what! We all treat ourselves.
"But can I afford this luxury long term, what will I have to leave on the shelf at Christmas if I buy this now?
A personal 'Simple Savings' website that we recommend signing up to for their free newsletters points out avoiding late fees and penalties, getting enough sleep and growing your own veggies all helps.
Other personal websites that deal with money matters and mortgages:
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Business Budgets:
Marketing Budgets should be allocated seasonally based on 5 years of statistics.
If you do not have any records going back this far, we can input the figures you do have and extrapolate them.
At the same time we must do two more things
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1 |
Business Health Check |
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2 |
Profit Analysis |
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3 |
International Market Trends per your industry |
-- Don't forget to add in fuel costs
An item will cost various amounts to get it sold.
Overhead's such as wintrier warmth, coffee and staff
security should all be taken into consideration!
--The average Marketing budget as a percentage should be
based on industry - competitors and current economic trends.
An average for Fast Moving Consumer Goods Markets (“FMCG”)
is around 8-10% of sales. That's an average SME in New Zealand.
If you wish to know about the offshore money trends:
Pharmaceutical companies spend around 20%, Ford and
Toyota spend less than 1% BUT: That's is not all - do not get
complacent.
Things that will go wrong - if you use a percentage and your sales
decline - you will advertise less and earn less.
If you need to attribute specific areas of your business - for instance
new products you will need to map out your results in a structured
and orderly manor.
- Numbers of enquiries received must quote a restricted
"special" code Increase the use of a particular phone number
- Number of viewers, listeners or readers reached by the campaign
- Account code each campaign - I don't really care if you have 80
campaigns each year - we can chart your growth if your books
reflect your interest!
--The IT budget as a percentage of sales averaged 3.5%
Hardware / Servers / Storage / Software, Networking / Security / Staff /
Out Sourcing.
http://www.researchandmarkets.com/reports/c30970
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