Balanced Budget

  

No budget deficits. The term is often used in reference to official government budgets, and means that the institution's revenues are either equal to or more than its expenses. Given that we're talking about the government, this is accomplished pretty rarely.

It can also be used in reference to the future, predicted revenues, and expenditures of an institution's operating budget. So, if the Social Security Administration ever manages to spend less/allocate less to expenditures than the amount of money it brings in through taxes and other revenue streams, it will have finally managed to achieve a balanced budget.

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Finance: What is a Budget?43 Views

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Finance a la shmoop what is a budget? that's that thing you throw right out [Woman throws budget out the window]

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the window just before you start doing all your Christmas shopping

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right but generally it's a plan that lets you see where your money will be

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spent if you have a personal budget well you'll be able to decide ahead of time [Personal budget example]

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how much money you'll spend on clothes, food, megaphones to annoy and anger your

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neighbors and you know whatever floats your boat if you own a company well

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you'll probably have much more complicated budget for things like

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advertising and lawyer fees either way the plan helps you make sure that you

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have enough moolah for everything you need and maybe some leftover for stuff

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you want.....Joan wants to control her money so she decides to set up a budget for [Joan setting up a budget on a laptop]

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next month she makes a thousand bucks from her summer job and well here's what

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her budget looks like.....

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Now Joan knows exactly where every penny is gonna go she's not [Joan driving a car]

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gonna be caught off guard by any surprise expenses she's not gonna spend

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$200 on safecracking equipment and then realize she doesn't have enough left [Joan stood beside a vault of gold bars]

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to pay her phone bill although if she does get hit with some unexpected

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expenses well hopefully yeah she can just pawn some of those exotic vases she

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took from the Peterson place [Joan holding a vase]

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