👉 A budget is a financial plan that outlines projected income and expenses over a specific period, typically monthly, quarterly, or annually, to help manage and control financial resources effectively. It involves estimating how much money will be available for various purposes, such as bills, savings, investments, and discretionary spending, while also setting limits to prevent overspending. By comparing planned income with anticipated expenses, a budget helps individuals and organizations make informed decisions, prioritize financial goals, and ensure long-term financial stability.
