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Finance: What is a Budget? 43 Views
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Description:
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.
- Social Studies / Finance
- Finance / Financial Responsibility
- College and Career / Personal Finance
- Life Skills / Personal Finance
- Finance / Finance Definitions
- Life Skills / Finance Definitions
- Finance / Personal Finance
- Courses / Finance Concepts
- Subjects / Finance and Economics
- Finance and Economics / Terms and Concepts
- Terms and Concepts / Accounting
- Terms and Concepts / Company Management
- Terms and Concepts / Company Valuation
- Terms and Concepts / Econ
- Terms and Concepts / International
- Terms and Concepts / Investing
- Terms and Concepts / Marketing
- Terms and Concepts / Metrics
- Terms and Concepts / Regulations
- Terms and Concepts / Tax
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Transcript
- 00:00
Finance a la shmoop what is a budget? that's that thing you throw right out [Woman throws budget out the window]
- 00:07
the window just before you start doing all your Christmas shopping
- 00:10
right but generally it's a plan that lets you see where your money will be
- 00:14
spent if you have a personal budget well you'll be able to decide ahead of time [Personal budget example]
- 00:18
how much money you'll spend on clothes, food, megaphones to annoy and anger your
Full 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]
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