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Why is it important to prepare a financial budget?

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Financial budgets are financial blueprints constructed to outline long-term and short-term earnings and spending estimates. A financial budget is important to prepare because it helps one to set aside some money in case of emergencies and attract investors who can see how well the company is doing. It also helps in meeting financial goals since a financial budget helps the owner of the business to be aware and keep track of how the business operates.

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