MANAGEMENT

Detailed explanation-1: -Insurance premiums, membership dues, and property taxes are some annual expenses you want to budget for throughout the year.

Detailed explanation-2: -Take a look at your spending on these items from last year, either by viewing your bills or your credit card or bank statements, and identify how much you spent annually. Then, take the amount of each cost, total them all up and divide by 12. This is the amount you’ll want to save per month in order to stay prepared.

Detailed explanation-3: -An annual budget lays out a company’s projected income and expenses for a 12-month period. The process of creating an annual budget involves balancing out a business’ sources of income against its expenses.