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Fewer subjects stir more
interest than money. Stick–
ing to a budget is vital to
financia! success.
by
Ronald D. Kelly
t our world
headquarters
in Pasadena,
California, as
I complete this
article for
The
Plain Truth,
it's
budget preparation time. Our
department heads are toiling
over the previous year's facts
and figures to which plans
for expansion are added.
So a new fiscal year begins
with plans for a balanced
budget.
Balanced budget? What's that?
An impossible dream? Or an eco–
nomic necessity?
The United States government
has come face to face with the
greatest national budget deficit in
history. Balancing the budget is
22
one of the biggest problems most
governments face. Most corpora–
tions face. And most individuals
face.
Sooner or Jater it simply must be
done, or financia! chaos will
result.
National governments can and
often do delay the agony of balanc–
ing the budget by printing more
money. When they do, the result is
inflation. That only delays the inev–
itable need for better budgeting.
Any government resorting to such
a method eventually is going to
have to bite the bullet and get its
financia! house in arder.
Corporations that find them–
selves in budget deficit have to
make dramatic cuts. Inventaries are
cut back, salaries reduced, sales
promotionals increased, employees
terminated- anything to balance
the budget.
If
not successful, cor–
porations go bankrupt.
But what about individuals like
you and me?
What we do know, is that in our
own lives, we too have trouble mak–
ing ends meet . And the tragic
result of improper financia!
management for the individ–
ual can be the same as a
large corporation or even a
national government–
bankruptcy.
Setting Up a Budget
The most successful way
to manage your income
is establishing and sticking to
a budget.
lf
you have tried it ,
you'll know it is not easy. At
all income Jevels, very few fam–
ilies find they have enough
income to meet their needs and
desires.
~
In fact , most find their
""-iiíJ
wants increase even greater
than thei r incomes. Salary
increases never seem to
keep up with expendi–
tures.
Poor people must abide
by a rigid budget. They
simply do not have
enough to worry
about the extras in
Nearly
50 percent of
U.S. workers in
sales,
technical and
administrative
support are
women.