Episode 290

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Published on:

21st Sep 2025

8 Advantages of Budgeting for Your Business

In this episode of I Hate Numbers, we uncover why budgeting is not a straitjacket, but one of the most liberating tools you can use in business. Far from restricting you, a budget gives you clarity, control, and confidence. By the end of this episode, you’ll see budgeting in a whole new light. We share eight powerful advantages of budgeting that will help you reduce stress, improve decision-making, and move closer to your business goals.

Episode Summary

Budgeting gives your business direction and resilience. In this episode, we explore:
  • Why clarity is the first gift of a budget.
  • How budgeting keeps you in control of cash flow and costs.
  • How goals and purpose are shaped and supported by budgeting.
  • Why numbers + instinct = better decision making.
  • How budgeting improves communication with your team.
  • Why targets boost motivation and accountability.
  • How budgeting reduces risks and flags problems early.
  • Why achievement is more likely when you have a roadmap.

Timestamps

  • [00:00] – Why budgeting is misunderstood — and why it’s liberating, not restrictive.
  • [00:01:03] – Advantage 1: Clarity – your business sat nav.
  • [00:02:00] – Advantage 2: Control – your financial dashboard.
  • [00:03:00] – Advantage 3: Purpose and goals – aligning money with mission.
  • [00:04:00] – Advantage 4: Better decision making – blending instinct with numbers.
  • [00:04:47] – Advantage 5: Communication – involving your team in the process.
  • [00:05:30] – Advantage 6: Motivation – why targets inspire commitment.
  • [00:05:50] – Advantage 7: Risk reduction – spotting red flags early.
  • [00:06:37] – Advantage 8: Achievement – turning dreams into measurable results.
  • [00:07:20] – Closing thoughts: Why budgeting is your financial roadmap.

Links Mentioned in This Episode

Call to Action

If you enjoyed this episode, subscribe to the I Hate Numbers podcast on Apple Podcasts and leave us a review — it helps more business owners discover the show. Want personalised advice? Book a call with us today and let’s work together on your budget and business growth. You can also visit our website for tools and resources to plan better, save tax, and grow your business. Plan it. Do it. Profit.
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About the Podcast

I Hate Numbers: Simplifying Tax and Accounting
Helping you and your business make more profits and reduce your anxiety
For some, watching paint dry, or a poke in the eye is better than dealing with their business numbers. I get it, numbers can be scary, confusing, and boring, not what your business is meant to be about.

But here’s the thing. If you’re serious about your business, you need to grab hold of your numbers, and connect with them. Falling in love with them may feel weird, but at least be on friendly terms with them if you want your business to survive and thrive.

Numbers make you accountable, showing you the financial impact of your successes, a route map to success and highlighting those flip-ups. Above all, learning to love & use your numbers means you have a better chance of making money, what’s not to love.

Fundamentally business is there to make money. You need to make money to survive and have impact. It’s about knowing how your future is going to pan out.

As a business finance coach, financial story teller and tax advisor, I've helped thousands of businesses over the years.

I love numbers, but I get it that not many businesses will do so. I want to share my love of numbers through my podcast, to make it accessible, to help you and your business power forward.

My aim is to make this podcast listener friendly, jargon and BS free.

In the words of W.E.B. Dubois “When you have mastered numbers, you will in fact no longer be reading numbers, any more than you read words when reading books. You will be reading meanings.”

About your host

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Mahmood Reza

Hi, my name is Mahmood, accountant, educator and author of the book, I Hate Numbers !!
I actually love numbers and what they can do for my business – and every business - but I come across so many people who have a real fear of numbers/maths/accounts (and accountants), and therefore, their business struggles to survive, never mind thrive. If only they knew how to get a fondness and some kind of control of those numbers!
Why am I so passionate about all of this stuff I’m putting out into the public domain? It’s my belief that once you understand what your numbers are, where they come from, and what they mean, you can use them to make better decisions and ultimately make (or keep) more money. What every business owner wants, right?
The one thing I’ll always guarantee you, is that whether you’re the CEO of a global corporation, or a market stall trader in your local town, your numbers matter – and you simply can’t get away from them. This book is your chance to get them all in one place, face your fears, and start making those numbers work for you.