Warning
Info
Warning
Info
Simple English definitions for legal terms
budget
Read a random definition: jury box
A quick definition of budget:
Term: BUDGET
Definition: A budget is a plan that shows how much money an organization or person expects to earn and spend during a certain time, usually a year. It helps them make sure they have enough money for the things they need and want to do. A budget can also be a specific amount of money set aside for a particular purpose or project.
A more thorough explanation:
Definition: A budget is a plan that shows how much money an organization expects to earn and spend during a specific period, usually a year. It can also refer to a specific amount of money set aside for a particular purpose or project.
Examples:
- An individual creates a budget to track their monthly income and expenses.
- A company creates a budget to plan for their expected revenue and expenses for the upcoming year.
- A government creates a budget to allocate funds for various programs and services, such as education, healthcare, and infrastructure.
These examples illustrate how a budget is a financial plan that helps individuals, organizations, and governments manage their money. By creating a budget, they can track their income and expenses, plan for the future, and make informed decisions about how to allocate their resources.