Quick Definition

A budget is a financial plan that outlines expected income and expenses over a specific period, helping individuals or organizations manage their money effectively.

Examples

• 1A family creates a monthly budget to allocate funds for groceries, rent, utilities, and savings.
• 2A small business owner sets an annual budget to cover operational costs, employee salaries, and marketing expenses.
• 3A college student devises a semester budget to manage tuition fees, accommodation, and personal expenses.
• 4A government department prepares an annual budget to fund public services, infrastructure projects, and administrative costs.

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