Budget

A budget is a financial plan that outlines expected revenues and expenditures over a specific period, typically a year. It serves as a guide for managing resources and making spending decisions. The budget reflects an individual’s, organization’s, or government’s financial goals and priorities, helping to allocate funds efficiently to various needs such as operational expenses, investments, savings, or debt repayment. By setting limits on spending and projecting income, a budget aids in maintaining financial control, preventing overspending, and ensuring that resources are appropriately distributed to meet obligations and aspirations. Budgets can be adjusted as circumstances change to better align with financial realities.