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Budgets can help you control spending and to gain a clear picture of your financial status. However, budgeting can take a lot of time, and errors can occur.
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Some of the advantages of incremental budgeting are that this type of budgeting is easy and quick. Some disadvantages of incremental budgeting are that different methods for achieving the objective may not be considered and if the budget is not fully spent it can be reduced during the next period.
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