There was quite a bit of news today on how various politicians around the world have essentially no solution to balancing a budget other than to increase taxes for companies and regular people which predictably made people upset. To make it worst, apparently in some cases people were promised free services if elected but that didn’t pan out.
I was thinking how that should be a bad sign right away if someone can’t even be bothered to see what they can currently change to make things work. I would imagine in city budgets many times businesses actually take advantage of the fact that government officials don’t think too much in terms of wanting the vest value as they just say they have a certain budget to spend and then do so. Example, if they have a $10,000 catering budget they will likely just spend it versus figuring out what exactly they need, the general market value for those items and then see how they can get it for the best value. Or the other thought would be if it is really that necessary versus potentially doing it themselves.
Imagine if this was your personal finance. I don’t think you can get away by just magically commanding that someone give you more money to maintain your current lifestyle. You will have to actually start budgeting whether it’s cutting back on non essentials or finding creative ways to get what you need for less. You should always try and balance the budget I that way first as it should fundamentally solve the core issue with your situation. Afterwards, any more money you bring in should just accelerate your finance to positivity and allowing you to potentially invest it in other things to grow.
Sounds so basic, but like here it’s always surprising to hear people in ranking positions neglect to even do just that.