What budget means?
A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis. Budgets can be made for a person, a group of people, a business, a government, or just about anything else that makes and spends money.
How do you use the word budget?
[S] [T] The budget must be balanced. ( [S] [T] I’ve been going over the budget . ( [S] [T] Tom has trouble budgeting his time. ( [S] [T] We are traveling on a tight budget . ( [S] [T] Tom is paying attention to his budget . ( [S] [T] Tom budgeted three hundred dollars for the party. (
Is Budgetary a real word?
Budgetary definitions The definition of budgetary is something related to a budget (the amount of money available or a financial plan for spending that money).
What is a budget Kid definition?
Kids Definition of budget (Entry 1 of 2) 1 : a statement of estimated income and expenses for a period of time. 2 : a plan for using money.
What are the 3 types of budgets?
Depending on the feasibility of these estimates, Budgets are of three types — balanced budget , surplus budget and deficit budget .
What are 3 basic budget categories?
As personal finance site Beating Broke explains, virtually all of your expenses fall into three overall categories: Fixed expenses, variable expenses, and non -necessities. Fixed costs include your rent, which stays the same every month. Variable costs would include things like your utility bills or food.
What is budget example?
Budget definitions. A budget is defined as a plan or estimate of the amount of money needed for cost of living or to be used for a specific purpose. An example of budget is how much a family spends on all expenses in a month. An example of budget is how much a person plans on spending on a new bed.
What does budget friendly mean?
budget – friendly Definitions and Synonyms adjective. DEFINITIONS1. 1. inexpensive . One of their favorite stores is IKEA, known for budget – friendly , modern furniture.
What does budget mean in math?
An estimate of income and spending for some period of time.
What is a budgeted amount?
the total amount of money allocated for a specific purpose during a specified period. archaic a stock, quantity , or supply.
What does the word pecuniary mean?
adjective. of or relating to money: pecuniary difficulties. consisting of or given or exacted in money or monetary payments: pecuniary tributes. (of a crime, violation, etc.) involving a money penalty or fine.
What is master budget?
A master budget combines all of the smaller budgets within your business and turns them into one overall budget , so you can get a comprehensive overview of your firm’s finances. The master budget includes the HR, marketing, and all other departmental budgets to produce an overall single budget .
What is the main purpose of a budget?
The purpose of a budget is to plan, organize, track, and improve your financial situation. In other words, from controlling your spending to consistently saving and investing a portion of your income, a budget helps you stay on course in pursuit of your long-term financial goals.
Why do we budget?
Since budgeting allows you to create a spending plan for your money, it ensures that you will always have enough money for the things you need and the things that are important to you. Following a budget or spending plan will also keep you out of debt or help you work your way out of debt if you are currently in debt.
How do you teach kids to budget?
Teaching Children How To Budget Start With Goals, Wants and Needs. Talk with your child about money and how to use it wisely. Save. When your child earns money, they should first set aside a portion for savings. Share. Teaching children about charity at a young age is also useful. Spend. The remainder of their earnings can go toward spending.