Budget

A budget is a financial plan that outlines expected income and expenses over a specific period, helping individuals or organizations manage resources effectively. It involves setting limits for spending and saving to ensure financial stability, avoid debt, and achieve goals. By tracking income and expenses, a budget provides insight into financial health, allowing adjustments to stay on track. Essentially, it’s a tool for making informed decisions about how to allocate your money wisely to meet both immediate needs and future objectives.