Term Of The Day: Budget

An estimation of the revenue and expenses over a specified future period of time. A budget can be made for a person, family, group of people, business, government, country, multinational organization or just about anything else that makes and spends money. A budget is a microeconomic concept that shows the tradeoff made when one good is exchanged for another.

Investopedia Says:
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A surplus budget means profits are anticipated, a balanced budget means revenues are expected to equal expenses and a deficit budget means expenses will exceed revenue. Budgets are usually compiled and re-evaluated on a periodic basis.

Adjustments are made to budgets based on the goals of the budgeting organization. In some cases, budget makers are happy to operate at a deficit, while in other cases, operating at a
deficit is seen as financially irresponsible.

Special Feature: Budgeting 101
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With very little effort or sacrifice, budgeting allows you to plan for your future, pay off your debts and still enjoy life today.
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