Explain optimal budgeting. Give its gains and drawbacks?? PLZZ help me
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♥️✌#⃣Budgeting plays an important role in the effective use of resources and ... Such activities result in sub-optimal profits for the company.♥️✌#⃣
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An optimal budget is defined as the set. of budget shares which maximizes the. benefits that are derived from a given. budget.
Benefits of Budgeting
- Gives you control over your money – A budget is a way of being intentional about the way you spend and save your money.
- Keeps you focused on your money goals – You avoid spending unnecessarily on items and services that do not contribute to attaining your financial goals.
The disadvantages of budgeting include the following:
- Time required.
- Gaming the system.
- Blame for outcomes.
- Expense allocations.
- Spend it or lose it.
- Only considers financial outcomes.
- Strategic rigidity.
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