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There is also a problem in where one is not in a position to draw up a clear investment plan with limited finances. All these problems emanate from the failure to have a tool where one can account for daily expenditures and income. The end solution, therefore, is to invent a tool that facilitates evaluation of the financial inputs and outputs incurred on a daily basis.
To gather the information, academic journals were analyzed. Data collection did entail utilization of a cross-sectional survey, using the questionnaires. Information was also the journals tend to explain some of the challenges and drawbacks that a person may face while budgeting. They also give a clear guideline on the steps to draw an effective budget. Theoretical studies did indicate that the business is subject to undergoing various steps in its operational life. All the steps have different financial demands and unless budgeting is done effectively, it is prone to failure. Personal expenses also stand a gap in the success of a business. Therefore, budgeting of the expenses is equally important.
Lewis, Kristen, and Sarah Burd-Sharps. The Measure of America 2010-2011: Mapping Risks and Resilience. New York: A joint publication of the Social Science Research Council and New York University Press, 2010. Internet
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In this process, this organisation has entered into a project for developing a city called Masdar City which is totally backed by renewable energy. This city has been developed focusing on an innovative idea that demonstrates the use of green technology, in turn encouraging healthier future.
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