Budjettiseuranta
Budjettiseuranta, which translates to budget monitoring or budget tracking in English, is a crucial financial management process for individuals and organizations alike. It involves systematically comparing actual income and expenses against a planned budget. The primary purpose of budget monitoring is to identify any deviations from the budget and understand the reasons behind them. This allows for timely adjustments to spending habits or revenue-generating activities to ensure financial goals are met.
The process typically begins with establishing a budget, which is a financial plan outlining expected income
Effective budget monitoring can highlight areas of overspending, enabling corrective actions such as reducing discretionary expenses