Budget

A budget is a financial plan that outlines expected income and expenses over a specific period, typically on a monthly or yearly basis. It serves as a tool for individuals, organizations, and governments to allocate resources effectively, prioritize spending, manage cash flow, and achieve financial goals. Budgets can be simple or complex, depending on the scope of financial activities being monitored. By tracking income and expenses, a budget helps in identifying areas where costs can be reduced or investments can be made, ultimately aiding in achieving financial stability and planning for future needs.