A family budget is a plan for the future based on an estimate of total income and probable monthly expenses and savings. The Digital Accountability and Transparency Act is in full swing, with the Office of Management and Budget and the Treasury Department catching headlines in their path to issue a governmentwide set of financial data standards by May 2015. Inspectors general are the best friends” of program managers and the White House budget office when it comes to catching fraud and reducing agency improper payments, the deputy U.S. controller said on Wednesday. Only setting great financial goals and planning your finances smartly you can have a chance to make the most of your money and fulfill your ambitions.
Mark Reger, now in his third month as the No. 2 at the Office of Federal Financial Management, said his team is reworking Circular A-123 guidance on controlling for financial integrity to make it less prescriptive and to rely on the people on the ground,” particularly inspectors general. Following the SMART system for goal setting you can make your goals clear and easy to track.
Grants management: Most of the challenges in grant management rest with the Federal Emergency Management Administration, which did not properly spend and document about 23 percent of disaster-assistance grants. It might be lack of clear and realistic financial planning in order to pursue your dreams. A specific goal would say: I want to eliminate my credit card debt by negotiating a pay plan with the creditors and applying the money from my second job toward it”. Make sure that you involve every family member in the process of setting financial goals.
Every three months look at each financial goal and see how you are doing as far as working toward its achievement. Breaking down the process in 3-month periods makes it easier to handle long term savings commitment and provide a certain degree of flexibility. You also gave me food for thoughts about writing a hub on financial planning when you are 60+. This is besides the financial goals, I found that a written wish list often finds a way to come true. Help contents are available Online which helps to reduce download and installation time for EPM system.
And it goes a long way to emphasize the fact that financial goals a basis on which we plan how we utilize our money and avoid financial anxiety. In an organisation, the process of financial management is associated with financial planning and financial control. While a well-organised bookkeeping system is vital, it is even more critical on what the organisation does with it to establish its methods for financial management and control.