Finance: What is a Budget?

What is a Budget? A budget is a projected estimate of revenues and expenses within a fixed time period. It is intended to be a guide and reference for the user of the budget, which can be an individual, a group, a company, a project, or a government body.

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Transcript

00:24

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

00:28

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

00:31

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

00:36

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

00:40

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]

00:49

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

00:53

her budget looks like.....

00:58

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

01:02

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

01:06

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

01:10

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

01:14

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

01:19

took from the Peterson place [Joan holding a vase]