Budget Definition

A budget is a document that estimates income and expenses for a specific period of time (e.g., a month or year).

Budget Extended Definition

A budget can help small business owners plan how money coming into the business (income) can be best used to pay the bills generated by the business (expenses).  

A well-designed budget contains information about:

• Anticipated sources of income
• Expected fixed and variable expenses

Budgets are useful management tools designed to help control spending and assist with planning.

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Last Updated By

Christan Neff | Apr 11, 2023