What is a budget?

A budget is a financial plan that outlines an individual's or organization's expected income and expenses over a certain period of time, typically on a monthly or yearly basis. It is a tool used to help individuals or organizations make informed decisions about spending and saving money. A budget can help people to set financial goals, track their spending, and ensure that they are living within their means. By creating a budget, individuals can gain control over their finances and make strategic decisions about where to allocate their money.