A budget is a financial plan for a defined period, often one year. It may also include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows.

What is a budget simple definition?

A budget is an estimation of revenue and expenses over a specified future period of time and is utilized by governments, businesses, and individuals. A budget is basically a financial plan for a defined period, normally a year that is known to greatly enhance the success of any financial undertaking.

What is budget and examples?

1. 4. 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.