Budgeting - What is meant by budgeting?

Q: What is meant by budgeting?

Budgeting is the process of creating a plan to spend your money. This spending plan is called a budget. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Budgeting is simply balancing your expenses with your income.

Answer

To put it simply, a budget is a strategy for allocating a certain amount of money. A budget is this financial plan. You may anticipate if you will have sufficient funds to accomplish your essential and non-essential expenses by making this spending plan. To create a budget, just add up all of your outgoing cash and put it in the bank.

Budgeting - What is meant by budgeting?

Other useful ERP terms

AI generated suggestions