Self-Imposed Budget/Participation Budget – A method of preparing budgets in which managers prepare their own budgets. These budgets are then reviewed by higher-level managers, and any issues are resolved by mutual agreement. In my own personal life, this is how my girlfriend and I budget our money together. Since we both work towards paying the bills together (mortgage, utilities, automobiles, insurance, groceries, etc.) we have to work together to properly budget our monthly incomes to ensure that all our needs are paid for. We then have a specific amount/goal of money that we try to save each month.