A budget is an estimation of revenue and expenses over a specified future period of time and is utilized by governments, businesses, and individuals. A budget is basically a financial plan for a defined period, normally a year. It greatly enhances the success of any undertaking. A budget can also aid in setting goals, measuring outcomes and planning for contingencies. Personal budgets are extremely useful in managing an individual’s or family’s finances over both the short and long term horizon.
What Is a Budget?
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