Jan 28, 2019
In episode 125 of Financially Simple, Justin compares Zero Based Budgeting and Incremental Budgeting.
Knowing how much your business will require to achieve a certain goal is essential to avoid problems in running the business, whether those goals are short-term or long-term. Justin looks at two budgeting techniques, Zero-Based and Incremental, considering their pros and cons, and when to use each type to attain your business goals.
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ARTICLE TRANSCRIPT: BLOG: Zero-Based or Incremental... Which Budget Strategy is Best for You?
00:22 - Zero Based Budgeting vs. Incremental Budgeting
01:35 - What is Zero-Based Budgeting?
02:54 - What is Incremental Budgeting?
03:20 - Pros & Cons
03:33 - Zero Based Budgeting
07:51 - Incremental Budgeting
11:17 - Summary
Justin A. Goodbread, CFP®, CEPA,
CVGA, is a nationally recognized financial planner, business
educator, wealth manager, author, speaker, and entrepreneur. He has
20+ years of experience teaching small business owners how to
start, buy, grow, and sell businesses. He is a multi-year recipient
of the Investopedia Top 100 Advisor and 2018 Exit Planning
Institute’s Exit Planner Leader of the Year.
This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast’s hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances.
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The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.
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