What is the basic information about budgeting?

Learn the basic information about budgeting. What is a budget? A budget is a plan that helps you manage your money. It shows you how much money you have, how much money you need to spend on different things, and how much money you can save or use for other goals.

What does a budget a mean?

A is a written plan that outlines how you’ll spend your money each month. You’ll have a balanced budget: This means your income equals your expenses and you aren’t spending more money than you make. You’ll have a deficit: This means you’re spending more than you make and possibly going into debt.

What is a budgeting process?

Budgets are usually viewed as a core component of an organization’s planning and control system. The procedures and activities that are undertaken to develop a budget are known as the budgeting process. The budget is a formal quantitative expression of the goals of management. The act of preparing a budget is called budgeting.