what is a budget?what are the major benefits to be gained from budgeting?

Answer 1

Budget generally refers to a list of all planned expenses and revenues. A budget is an important concept in microeconomics, which uses a budget line to illustrate the trade-offs between two or more goods.

A personal budget is among the most important concepts of personal finance. In a personal or family budget all sources of income (inflows) are identified and expenses (outflows) are planned with the intent of matching outflows to inflows. There are a wide variety of personal budgeting methods and tools that can be employed to help individuals and families with the budgeting process. Also the level of planned finance available to a person, corporation or government, as set by a certain person.

As the technology of money and banking continues to make spending easier, individuals, families, companies, and governments need to adopt more effective budgeting methods, strategies, and tools to balance their outflows to their inflows and avoid deficit (or debt-based) spending.

Presently nearly all large businesses reforecast their original budgets on a quarterly basis. As months pass, the actual income achieved and expenses incurred can be compared to the budget and forecasts. Variances between these financial plans and actual delivery can then be analyzed to provide information that can improve performance. The future sees traditional annual budgets being replaced or complemented by monthly forecasts or rolling forecasts. Monthly forecasts provide fresher and more up-to-date financial plans.

Answer 2

The 2010 Singapore Budget has just been announced by the government. The government will be committing S$1.1 billion a year over the next five years in the form of tax benefits, grants @(term & con apply)@ and training subsidies @(train who,S or FT?)@ to support the national bid to raise productivity @(work smart don't hard how to raise?). Foreign worker levies are also set to increase, with levy rates to go up between S$10 to S$30 for most Work Permit holders on July 1 this year @(some 1 getting pay rise again). What are your thoughts on the Budget and how will it benefit you? What other suggestions do you have on the Budget? @(so what if U have thoughts, will it be listen???)@ Recently, some report indicated that the performance of Singaporean are much worse than foreigners in general @(Don't see report, report is to cover problems see the fact with your eyes).

Answer 3

A budget is a plan for your incoming money.The benifits are many.Your bills get paid on time.You have groceries in your house and gas in your car.Things like that.You plan out what you need to pay when and dont spend more than you budget yourself.It's a great way to save money and have peace of mind Loves my budget.

Answer 4

:)