Balanced Budget

A balanced budget occurs when an individual, organization, or government spends no more money than it receives in income during a specific period. For governments, this means their revenue from taxes and other sources equals their expenses, avoiding deficits or debt accumulation. Maintaining a balanced budget helps ensure financial stability and sustainability, preventing excessive borrowing and debt buildup. It requires careful planning and management of income and expenditures to ensure all commitments are met within available resources.