Simple English definitions for legal terms
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Term: BUDGET
Definition: A budget is a plan that shows how much money an organization or person expects to earn and spend during a certain time, usually a year. It helps them make sure they have enough money for the things they need and want to do. A budget can also be a specific amount of money set aside for a particular purpose or project.
Definition: A budget is a plan that shows how much money an organization expects to earn and spend during a specific period, usually a year. It can also refer to a specific amount of money set aside for a particular purpose or project.
Examples:
These examples illustrate how a budget is a financial plan that helps individuals, organizations, and governments manage their money. By creating a budget, they can track their income and expenses, plan for the future, and make informed decisions about how to allocate their resources.