One of the first aspects of establishing a budget that often arises is whether the budget should be the amount you are hoping to spend or the maximum amount you are prepared to spend.
At this stage, we need you to figure out the maximum amount you are prepared to spend. By all means, you should keep this number confidential but everything we are going to suggest requires that you have a real maximum that is not to be exceeded no matter. We know of clients who never established a maximum budget because they felt that they had more than enough money for the work they wanted who ended up spending more than they really wanted to because they had not established a true maximum. Remember, the maximum we are referring to has to be a real number that you will not exceed no matter what!
For some, identifying the maximum budget is easy; they already have an amount in mind that is readily available when needed. For others, they may need to raise some or all of the required funds.
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