Budget Business: Options for Consideration, Discussion, and Conclusion

BUDGET BUSINESS

Contents
INTRODUCTION...........................................................................................................................3
Options for consideration.......................................................................................................3
Discussion...............................................................................................................................3
CONCLUSION................................................................................................................................4
REEFRENCES................................................................................................................................5
Appendix..........................................................................................................................................6

INTRODUCTION
Budgets are mainly prepared to allocate funds for various business operations and mark the
income generated from these activities for company in specific time manner. A budget is a
strategy to fund planned operations (Boyabatlı, Leng and Toktay, 2016). Company forecasts may
provide a forecast for sales or expenses defined by goods or services, development forecasts. In
this report, initial budget and final budget is prepared, two expenses option for consideration are
discussed. In addition, proper recommendation is discussed that states the process to reduce the
expense over specific option. In this, report Dubai Islamic Bank is selected which provide
different credit card and personal loan.
Options for consideration
Option 1:
Credit Card: - A credit card system is type of retail transaction settlement and credit system,
named after the small plastic card is different from a debit card in that the credit card issuer loans
the consumer money rather than having the money removed from an account (Erlina and Muda,
2017).
Plus Minus Interesting
Money from transaction
credited into suppliers
account within 2-4 days
Paying high rate of interest.
If user carries balance from
more than month user will
pay interest charges. Other
fees can quickly add up.
Provide cash availing
facility. Credit card
generally provide free credit
period.
No cash involved Credit damage missed credit
card repayment and going
debts are recorded on users’
credit files.
Cards provide for personal
accident insurance
Option 2:
Personal Loan: Dubai Islamic Bank provides a type of unsecured loan which provides help to
individual to fulfil their current financial needs and desires in order to spend their life (Erlina and
Muda, 2017). Personal loans help families deal with any difficulties they might have in the
buying of a home, a vehicle and kid's higher education.