Homonym: budget (Estimate)
A budget is a financial plan that outlines expected income and expenses over a specific period, usually a month or a year. It helps individuals, families, and organizations manage their money effectively by tracking where funds come from and where they are spent. By creating a budget, people can prioritize their spending, save for future goals, and avoid debt.
Budgets can be created using various methods, such as the envelope system or zero-based budgeting. They can also be adjusted as circumstances change, allowing for flexibility in financial planning. Overall, a budget is a valuable tool for achieving financial stability and making informed decisions.