Make an investment out of your savings to generate income. For first time investors, use twenty-five percent (25%) of your savings as a start up investment. You don't have to have millions to start investing. If your start up investment is just about $1000, invest it in treasury bills to gain steady returns, or in a time deposit even for five years time only. To homemakers, a budget is an essential factor to keep the financial equilibrium of the entire household. To staff members, budgets get in the way of proposed activities. To finance committees, budgets hold staff members accountable. To most, it consumes too much time and effort. However, budgets are important to any person or organization's success. It must also do a detailed monitoring of expenditures across a wide range of areas such as supplies, facilities, equipment and telecommunications. The problems inherent in alignining projected sales and expenses, analyzing a business for profit and cost projects against multiple dimensions and producing accurate projections outstrip the capabilities of most budgeting and forecasting systems. The reviewing stage. In the reviewing stage, you will calculate variances, evaluate performance, review timelines and create solutions for continuous development. The reporting and control stage In the reporting stage, budgets serve as a reference point for many reports, such as performance reports that support bonuses and promotions in the organization. Developing a budget for your business on an annual basis allows you to review the business' overall operations. Budgeting also permits you to identify those factors that are key to the success of the organization. These factors can be closely monitored throughout the year and adjustments can be made for critical elements. Financial planners say people are often surprised to see where their money is really going each month. Most people are lucky to have anything left over at the end of the month after all the bills are paid. When someone tries to lose weight, the more they track what they are eating and how much they exercise, they better they do.