A budget is a financial plan that estimates how much money a person, organization, or government will earn and how much they will spend over a specific period, such as a month or a year
. It outlines expected income and expenses and helps manage resources effectively to achieve financial goals, avoid overspending, and maintain financial stability
. Budgets can be used by individuals, families, businesses, and governments to prioritize spending, set financial goals, and monitor financial health. They may show a surplus (income exceeds expenses), a balanced budget (income equals expenses), or a deficit (expenses exceed income)
. In summary, a budget serves as a roadmap for managing money, guiding spending decisions, saving, and planning for future financial needs
